Worthington Steel Says Kloeckner Shareholders Reject Domination and Profit-and-Loss Transfer Deal

12:03 PM EDT, 10/23/2026 (MT Newswires) -- Worthington Steel (WS) said Friday that Kloeckner shareholders did not approve the proposed domination and profit-and-loss transfer agreement between the companies. Approval would have given Worthington formal control over Kloeckner's operations and finances under German corporate law. For now, the company will operate within the existing ownership and governance structure, it said. "The vote will affect the timing, mix and manner in which certain goals can be realized, particularly in the near term, but it does not change our conviction regarding the compelling strategic rationale for the acquisition," said Worthington CEO Geoff Gilmore. Worthington shares were up 3.5% in Friday trading. Price: 41.81, Change: +1.34, Percent Change: +3.30