Klöckner & Co, a Germany-based producer and distributor of steel and non-ferrous metals, has confirmed market rumors that it is currently in discussions with US-based steel producer Worthington Steel, Inc. about a potential voluntary public takeover offer for all outstanding shares of Klöckner & Co. As part of this process, Worthington Steel has already begun conducting due diligence on the German company.
According to Klöckner & Co, there is no certainty at this stage regarding whether the negotiations will lead to an official takeover bid or what terms such an offer might include. The company emphasized that several conditions remain open, and the process is still in an early and exploratory phase.
Worthington Steel in a formal statement also confirmed that discussions are ongoing. The company noted that no investment decision has been made and highlighted that the talks may ultimately conclude without a transaction.