Worthington Steel, Inc. (NYSE: WS) announced on September 8, 2026, that it has signed a domination and profit and loss transfer agreement (DPLTA) with Kloeckner & Co SE. The agreement was executed pursuant to Sections 291 et seq. of the German Stock Corporation Act (AktG), with Worthington Steel acting as the controlling company through its wholly owned subsidiary, Worthington Steel GmbH.
The signing follows the completion of Worthington Steel’s voluntary public takeover offer for Kloeckner, which closed on June 3, 2026. As a result of the offer, Kloeckner shares were delisted from the regulated market of the Frankfurt Stock Exchange, a process that became effective on August 12, 2026.
Under the terms of the agreement, the DPLTA is subject to approval by Kloeckner shareholders. Specifically, at least 75% of the share capital represented must approve the agreement at a Kloeckner general meeting. An extraordinary general meeting is scheduled to take place on October 23, 2026.
Following shareholder approval and the completion of further required steps, the DPLTA is expected to become effective upon registration with the commercial register at Kloeckner’s registered seat. The earliest possible effective date for the agreement is January 1, 2027.
According to the filing, Kloeckner & Co is a producer-independent metals processor with a network of approximately 110 warehouse and processing locations. The company supplies more than 60,000 customers and employs over 6,000 people. Kloeckner reported sales of some €6.4 billion in fiscal year 2025.
Worthington Steel, headquartered in Columbus, Ohio, operates 37 facilities across seven U.S. states and 10 countries. The company employs approximately 6,000 people and focuses on carbon flat-roll steel processing, electrical steel laminations, and tailor welded solutions.
