Worthington Steel Prepares for Kloeckner & Co EGM

Worthington Steel GmbH has issued a statement ahead of Kloeckner & Co SE's extraordinary general meeting (EGM) scheduled for October 23, 2026, in Düsseldorf, Germany. The meeting will focus on voting for a Domination and Profit and Loss Transfer Agreement (DPLTA) between the two companies. A 75% majority is required for approval.

If the agreement does not receive the required votes, Worthington Steel will refrain from reintroducing it for at least one year. The DPLTA is crucial as it would enable a combination of operations. If approved, this merger is expected to enhance operational capabilities and strategic positioning.

Currently, Kloeckner remains independent until shareholder approval and legal formalities are completed. Worthington emphasizes the value of this agreement for achieving long-term growth and operational efficiency.