Klöckner & Co., a German manufacturer and distributor of steel and non-ferrous metals, has confirmed market rumors that it is currently negotiating with American steel manufacturer Worthington Steel, Inc. on a possible voluntary public takeover offer for all outstanding shares of Klöckner & Co SE.
As part of this process, Worthington Steel has already begun conducting due diligence on the German company.
According to Klöckner & Co SE, at this stage, it is not certain whether the negotiations will lead to a formal takeover offer or what conditions such an offer may include. The company stressed that some conditions remain open, and the process is still at an early stage of study.
Worthington Steel also confirmed in an official statement that discussions are ongoing. The company noted that no investment decision had been made, and stressed that negotiations could eventually end without a deal.
Author: SteelOrbis Editorial Team
Steelorbis.com
