Worthington Steel, Inc. (WS) Form 8-K — Sep 8, 2026
Worthington Steel signed a German-law Domination and Profit and Loss Transfer Agreement (DPLTA) with Kloeckner & Co SE on September 8, 2026, executed through its indirect wholly-owned subsidiary Worthington Steel GmbH as the controlling company. Under the DPLTA, Worthington Steel GmbH will be entitled to issue binding instructions to Kloeckner's management board, receive all of Kloeckner's annual profits, and generally absorb Kloeckner's annual losses. Outside Kloeckner shareholders can elect a cash exit at EUR 11.00 per share or a recurring annual compensation payment of EUR 0.67 gross (EUR 0.66 net) per share.
Key figures
- Termination terms
- 3 months' notice to fiscal year-end; first permissible termination only after a fiscal year ending at least 5 years (60 months) after financial integration begins
- Kloeckner fy2025 sales
- EUR 6.4 billion
- Earliest dplta effective date
- 2027-01-01
- Required shareholder approval
- 75% of share capital represented
- Takeover offer completion date
- 2026-06-03
- Kloeckner delisting effective date
- 2026-08-12
- Dplta cash exit compensation per share
- EUR 11.00
- Dplta annual compensation net per share
- EUR 0.66
- Dplta annual compensation gross per share
- EUR 0.67
- Kloeckner extraordinary general meeting date
- 2026-10-23
Price after filing
Close on the filing date to close N calendar days later (from $35.59). Historical, not a forecast.
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