SGH Ltd and Steel Dynamics have increased their takeover bid for Australian steelmaker BlueScope Steel to A$15 billion ($10.62 billion), calling it a “best and final” offer. The new proposal of A$32.35 per share, an 8% increase from their previous rejected bid, caused BlueScope’s shares to jump. The acquiring companies plan to split BlueScope’s operations, with SGH taking the Australian units and Steel Dynamics acquiring the North American assets.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
SGH, Steel Dynamics bid $10.6 billion for BlueScope Steel in ‘best and final’ offer
SGH Ltd and Steel Dynamics have increased their takeover bid for Australian steelmaker BlueScope Steel to A$15 billion ($10.62 billion), calling it a “best and final” offer. The new proposal of A$32.35 per share, an 8% increase from their previous rejected bid, caused BlueScope’s shares to jump. The acquiring companies plan to split BlueScope’s operations, with SGH taking the Australian units and Steel Dynamics acquiring the North American assets.