COLUMBUS – Worthington Steel, Inc. (NYSE: WS) confirmed it is engaged in negotiations with Klöckner & Co SE (ETR: KCO) regarding a potential voluntary public takeover offer for the German steel distributor.
In a brief statement, the Ohio-based metals processor emphasized that no final investment decision has been made and cautioned that the discussions may not lead to a transaction. The company stated it does not intend to provide further commentary at this time.
The potential acquisition would mark a significant strategic move for Worthington Steel, a leading North American metals processor with 37 facilities across 10 countries, into the European market. Klöckner & Co, headquartered in Duisburg, Germany, is one of Europe’s largest producer-independent distributors of steel and metal products.
A combination of the two companies would create a transatlantic metals processing and distribution entity with considerable scale. The talks come amid ongoing consolidation in the global steel industry as companies seek to bolster supply chains and expand geographic footprints.
Klöckner & Co has not yet issued a public statement regarding the negotiations. Market analysts anticipate further details may emerge through regulatory filings in Germany, where takeover offer rules require stringent disclosure.
Worthington Steel is a metals processor specializing in carbon flat-roll steel processing, electrical steel laminations, and tailor-welded solutions. Employing approximately 6,000 people, the company operates with a focus on sustainable steel processing and value-added services for its customers.