Bluescope Steel Shares Drop 2% After Rejection of $8.9 Billion Takeover Bid
BlueScope Steel Shares experienced a notable drop today after the Australian steel giant announced the rejection of a US$8.9 billion (A$13.2 billion) takeover offer from a consortium led by SGH Limited and U.S. steel producer Steel Dynamics. The share price fell roughly 2 percent, reflecting investor disappointment but also strong confidence in BlueScope’s future strategy, long-term value, and operational strengths.
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