Worthington industries board of directors approves separation of worthington steel

Record date for distribution of worthington steel common shares will be november 21, 2023 “when-issued” trading of worthington steel and worthington industries ex-distribution common shares expected to begin on november 28, 2023 distribution date expected to be december 1, 2023 columbus, ohio, nov. 09, 2023 (globe newswire) -- worthington industries, inc. (“worthington industries” or the “company”) (nyse: wor), a leading industrial manufacturer, today announced that its board of directors (the “board”) approved the previously announced separation of its steel processing business, worthington steel, inc. (“worthington steel”) via a spin-off that is generally intended to be tax-free to shareholders for u.s. federal income tax purposes. the board declared a pro rata distribution of 100% of the outstanding common shares of worthington steel to worthington industries shareholders of record as of the close of business on november 21, 2023 (the “record date”).
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