Kloeckner & Co jumps on Worthington Steel takeover offer

Kloeckner & Co SE

16/01/2026 07:08

** Shares of Kloeckner & Co KCOGn.DE are up some 25% on Tradegate after U.S.-based Worthington Steel WS.N said on Thursday it would buy the German metals trader, offering 11 euros per share

** That represents a premium of around 28% to Kloeckner's Thursday close of 8.61 euros

** The all-cash deal valued at $2.4 billion is expected to close in the second half of the year

** "This was rumored for a while, still strongly positive," a local trader says

** On December 8 Kloeckner rose 25% after confirming takeover talks with Worthington Steel

(Reporting by Anastasiia Kozlova)

((Anastasiia.Kozlova@thomsonreuters.com))