Jan 16 (Reuters) - Worthington Steel ( WS ) plans to buy

Germany's Kloeckner & Co in a deal that values the

metals trading firm at $2.4 billion, ‌as the company looks to

strengthen its position ​in North America.

Kloeckner & Co, which operates out ‍of over 100 sites across

North ⁠America and ⁠Europe, offers carbon flat-roll steel,

electrical steel, aluminum among ‌other products.

Swoctem, Kloeckner & ​Co's biggest shareholder, has agreed to

tender its 41.53% stake into the ⁠offer, which will ‍be ​subject to

a minimal acceptance threshold of 65% of all outstanding shares.

Kloeckner & Co shares ‍rose 25% in pre-market trade.

The all-cash deal will be carried out via a voluntary tender

offer in Germany and is expected to close in the ​second ‍half of

the year, Worthington said.

It expects combined revenue of about $9.5 billion ​following

the acquisition, making it the second-largest steel service

center company in North America.

Kloeckner said in December that it was in talks with

Worthington Steel ( WS ) regarding a potential takeover.

Shares of Worthington ​rose over 3% in extended trading.