BlueScope rejects Steel Dynamics, SGH takeover bid

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Thu, 08 Jan 2026

By Nicholas G MillerBlueScope rejected a US$8.8 billion (NZ$15.2b) takeover bid from SGH and Steel Dynamics, saying it “very significantly undervalued” the company.“The consortium’s takeover proposal failed to adequately recognise the value of BlueScope’s assets and comes at a time of lower steel spreads in Asia,” the company said.'Compelling value'SGH and Steel Dynamics said their bid, worth US$20.04 a share, represented a 33% premium to BlueScope’s three-month volume-weighted average share pri...

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