WS news

Worthington Steel's planned domination agreement with Kloeckner failed to gain required shareholder approval, but the company remains committed to its strategic goals and will operate within updated governance structures.

Worthington Steel expects no takeover vote on its agreement with Klöckner & Co for at least one year if the required 75% approval is not achieved on Oct. 23.

Worthington Steel reported first quarter fiscal 2027 net sales of $2,726.6 million, a 212% increase driven by the acquisition of a majority stake in Klöckner & Co SE.

Worthington Steel GmbH has signed a Domination and Profit and Loss Transfer Agreement with Klöckner & Co SE, signaling a strategic move to integrate the German steel operations and grant leadership control to Worthington.

Worthington Steel announced the launch of a tender offer for Kloeckner shares at EUR 11.00 per share to complete the delisting. This move allows remaining minority shareholders to exit the company and eliminates public trading in Kloeckner.

Worthington Steel reported a fiscal 2026 fourth-quarter net loss of $48.7 million driven by acquisition expenses despite a 12% increase in sales to $929.2 million. The company closed on its acquisition of a majority interest in Kloeckner & Co. in June 2026, aiming to diversify its metals processing …

Worthington Steel completed its takeover of Kloeckner & Co, securing approximately 62% of shares, and announced plans to launch a delisting tender offer for remaining shareholders at EUR 11.00 per share. The transaction is expected to broaden Worthington's product portfolio, diversify end-market exp…

Worthington Steel announced a $900 million senior secured notes offering due 2033, with proceeds designated for the pending acquisition of Kloeckner & Co SE, debt repayment, and working capital. The offering includes escrow provisions contingent on acquisition completion by March 12, 2027, represent…