Overview
- Major shareholder SWOCTEM, owned by Friedhelm Loh, agreed to tender its roughly 41.5% stake.
- Klöckner’s management and supervisory board recommend acceptance, with no layoffs or site closures planned and the European headquarters to stay in Düsseldorf.
- The cash offer values Klöckner at about €2.1 billion, and the share price jumped to as high as €11.16 following the announcement.
- Completion still requires customary regulatory clearances, with closing targeted for the second half of 2026.
- Worthington signaled it may later seek a squeeze-out at around 95% ownership, a control and profit-transfer agreement, and a potential Frankfurt delisting.