Overview
- The voluntary public takeover offer values Klöckner & Co at about €2.1 billion and is all cash at €11.00 per share.
- Klöckner shares jumped nearly 25% in premarket trading following the recommendation to accept the bid.
- Completion depends on at least 65% of shares being tendered and on regulatory approvals, with closing targeted for the second half of 2026.
- Major shareholder SWOCTEM GmbH, holding about 41.53%, and Klöckner executives have committed to tender their shares.
- Plans call for Düsseldorf to remain the European base, the current management to continue leading the business, and no layoffs or site closures to be undertaken.