Home / Business and Economy / BlueScope Receives A$13.15B Takeover Bid
BlueScope Receives A$13.15B Takeover Bid
5 Jan
Summary
- BlueScope received a takeover offer valued at A$13.15 billion.
- The offer was made by a consortium of Australian and U.S. companies.
- The bid implies a significant premium of 26.8% to BlueScope's share price.
Australian steel manufacturer BlueScope Steel has revealed an indicative takeover offer amounting to A$13.15 billion. The proposal, received in December, comes from a consortium comprising SGH Ltd, an Australian industrial conglomerate, and Steel Dynamics Inc., a U.S. entity.
The offer, made on December 12, stipulates A$30 per share. This valuation suggests a significant premium of 26.8% compared to BlueScope's share price at the close of trading on December 11. The proposed structure involves SGH acquiring all shares before divesting BlueScope's North American operations to Steel Dynamics.
