Klöckner & Co SE, Klöckner & Co., a German manufacturer and distributor of steel and non-ferrous metals, has confirmed market rumors that it is currently in talks with American steel producer Worthington Steel, Inc. about a potential voluntary public takeover offer for all outstanding shares of Klöckner & Co SE. As part of this process, Worthington Steel has already begun conducting a comprehensive audit of the German company.
According to Klöckner & Co SE, at this stage, there is no certainty as to whether the negotiations will lead to a formal takeover offer or what conditions such an offer may include. The company stressed that some conditions remain open, and the process is still at an early research stage.
Worthington Steel also confirmed in an official statement that discussions are ongoing. The company noted that an investment decision has not yet been made, and stressed that negotiations may eventually end without a deal.
