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.
BlueScope's board of directors is currently engaged in a thorough evaluation of this takeover proposal. Further updates are anticipated as the board deliberates on the terms and implications of the offer.
