BlueScope Rejects $8.8 Billion Takeover Bid from Steel Dynamics and SGH: What It Means for Investors
In a major development that has grabbed headlines across global markets, BlueScope, one of Australia’s largest steel producers, has firmly rejected a US$8.8 billion takeover offer from a consortium led by U.S. steelmaker Steel Dynamics and Australian industrial group SGH. The bid, which priced BlueScope at about A$13.2 billion or A$30 per share, represented a significant premium to the stock price but was ultimately deemed by the board to substantially undervalue the company’s long‑term prospects and assets.
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