(new: price development updated, analyst commentary.)
DÜSSELDORF (dpa-AFX) – The steel trader Klöckner & Co (KlöcknerCo (KlöCo)). (KlöcknerCo (KlöCo)) could soon be taken over by the US group Worthington Steel. The Düsseldorf-based group confirmed negotiations on Saturday evening regarding a possible takeover offer for all shares in the SDAX-listed company.
The US company is currently examining the books of the German steel trader. It is still unclear whether or under what conditions a takeover offer will be made, the mandatory announcement continued.
The price of Klöckner shares jumped by more than a quarter to 7.78 euros on Monday, reaching its highest level since April. The paper has gained more than 70 percent in value this year. However, the price is still a long way from its multi-year high of 13.50 euros in March 2022.
In the short term, Klöckner & Co shares are now turning into a “story” that is driven by mergers and acquisitions, wrote analyst Dirk Schlamp from DZ Bank. If Worthington Steel makes an attractive purchase offer, investors could take the premium and say goodbye. If the deal fails, the weekend’s news would be a “temporary catalyst.”
From Schlamp’s point of view, the decisive factor for the success of the deal is the behavior of major shareholder Friedhelm Loh, who holds 41.5 percent of Klöckner shares through Swoctem GmbH.
The market capitalization was around 777 million euros on Monday morning after the sharp price increase. The market capitalization of Worthington Steel was recently just over 1.8 billion dollars or the equivalent of just under 1.6 billion euros.
Klöckner & Co was founded in Duisburg in 1906 and ultimately employed almost 6,600 people. In 2024, the company had sales of 6.6 billion euros, slightly less than the year before despite higher sales due to falling steel prices.
The operating result also fell last year. For 2025, the Klöckner leadership expects a slight increase in sales and revenue as well as a significantly higher operating profit./zb/nas/err/stw/men
By the way: Worthington Steel and other US stocks can even be traded on finanzen.net ZERO until 11 p.m. (without order fees, plus spreads). Open a depot now for free and secure a new customer bonus!
Selected leverage products on Klöckner
With knock-outs, speculative investors can participate disproportionately in price movements. Simply select the lever you want and we will show you suitable open-end products on Klöckner
The leverage must be between 2 and 20
Advertising