U.S. steel company Worthington Steel has announced the results of the initial acceptance period of its voluntary public tender for German steel and non-ferrous metals manufacturer and distributor Kloeckner & Co SE.
According to Worthington Steel, after the initial acceptance period expired on March 26, 2026, the minimum bid acceptance threshold of 57.5 percent was set to be exceeded, meeting the relevant requirements for the first stage of the process acquisition.
Worthington Steel said that Kloeckner shareholders who have not yet accepted the offer will be able to participate during an additional acceptance period, which will begin on April 1, 2026 and end on April 14, 2026.
Commenting on the matter, Worthington Steel President and CEO Jeff Gilmore said that the receipt from shareholders during the initial acceptance period represents an important step towards the completion of the transaction, adding that the additional acceptance period provides shareholders have another opportunity to participate.
The deal is expected to close in the second half of 2026, according to Worthington Steel.
