Key Moments
- BlueScope said it received an indicative takeover proposal at A$30.00 per share from a consortium of SGH Limited and Steel Dynamics.
- Under the plan, SGH would first acquire all BlueScope shares. Then, BlueScope’s North American businesses would be sold to Steel Dynamics.
- The board is reviewing the offer, which follows three earlier attempts from the same consortium in late 2024 and early 2025. Those proposals were rejected by BlueScope.
New Consortium Bid at A$30.00 per Share
BlueScope confirmed that it received a fresh acquisition proposal from a consortium of SGH Limited and Steel Dynamics. The offer values the company at A$30.00 per share. The disclosure came in a statement released on Monday.
Proposed Transaction Structure
According to the indicative terms, SGH would acquire 100% of BlueScope’s issued shares. Then, BlueScope’s North American operations would be sold to Steel Dynamics. This structure aims to split the company’s assets while allowing both bidders to participate.
| Item | Details |
|---|---|
| Bidder consortium | SGH Limited and Steel Dynamics |
| Offer price | A$30.00 per BlueScope share |
| Initial acquirer | SGH (all BlueScope shares) |
| Subsequent asset sale | BlueScope’s North American businesses to Steel Dynamics |
Board Review and Prior Approaches
BlueScope said its board is reviewing the latest proposal. In addition, the company noted that this approach follows three previous bids from the same consortium in late 2024 and early 2025. Each of those offers was rejected. Therefore, the board will carefully assess this new bid before making any decisions.
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