Worthington Steel, Inc. to acquire Klöckner

Worthington Steel, Inc. has agreed to acquire Klöckner in a going private transaction valued at 576 million EUR. The deal, announced and completed on 3 June 2026, involves a cash consideration from the US-based buyer to the German target. Although the sector classification is listed as Other, the transaction represents a significant cross-border acquisition where the American steel producer takes full ownership of the European entity. The low confidence rating on the reported value suggests the headline figure may be subject to adjustment or verification.

The transaction has been finalised, marking the immediate conclusion of the acquisition process. Regulatory approvals were secured to facilitate the transfer of control and the subsequent delisting of the target company from public markets. This completed deal establishes a new ownership structure under the US parent company, ending the public trading status of the German business. The transaction is subject to regulatory approval.