Kloeckner jumps after confirming takeover talks with Worthington Steel

Shares of German metals trader Kloeckner & Co KCOGn.DE rise around 25% on Monday after confirming late on Friday it is in discussions with U.S.-based Worthington Steel WS.N about a potential takeover bid

"Strategically, the fit appears strong," Metzler analyst Thomas Schulte-Vorwick says in a note, saying that around 60% of Kloeckner's revenues come from North America

Europe, which makes up around the remaining 40% of revenues, might become more attractive because of planned EU safeguard measures and expected growth in infrastructure and defence, Schulte-Vorwick says

No offer or investment decision has been taken yet, and Worthington Steel said the discussions may not result in a transaction

Shares were seen trading at 7.61 euros ($8.86) per share at 1318 GMT, on track for their best day since October 2008

($1 = 0.8584 euros)