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Home » Stock Market News » BlueScope Confirms Takeover Approach From SGH and Steel Dynamics

BlueScope Confirms Takeover Approach From SGH and Steel Dynamics

Written by Sandra Leggero
Sandra Leggero
Sandra Leggero has a background in financial markets, having spent more than 9 years in commodities trading for several European and Asian companies. She holds a degree in Economics from the University of Pavia and specializes in emerging markets.
, | Updated:

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.

ItemDetails
Bidder consortiumSGH Limited and Steel Dynamics
Offer priceA$30.00 per BlueScope share
Initial acquirerSGH (all BlueScope shares)
Subsequent asset saleBlueScope’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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