What is the latest bid for BlueScope Steel?

Steel Dynamics and SGH submitted a sweetened bid for BlueScope Steel valuing its equity at approximately US$11 billion, offering A$32.35 per share in cash.

How much is BlueScope's equity valued at in the new offer?

The revised offer values BlueScope's equity at approximately US$11 billion.

What is the premium offered for BlueScope Steel shareholders?

The new offer represents a 56% premium to BlueScope's 52-week volume-weighted average price.

Home / Business and Economy / BlueScope Rejects Sweetened $11B Steel Bid

BlueScope Rejects Sweetened $11B Steel Bid

18 Feb

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Summary

BlueScope's equity is valued at US$11 billion in the revised bid.
Shareholders are offered A$32.35 per share in cash.
The offer represents a 56% premium over BlueScope's 52-week average.

BlueScope Rejects Sweetened $11B Steel Bid

Steel Dynamics and SGH have put forth an improved offer for BlueScope Steel, with an equity valuation of approximately US$11 billion. This latest proposal offers BlueScope shareholders A$32.35 in cash per share, a notable increase from the initial December offer of A$30 per share. This sweetened bid represents a substantial 56% premium compared to BlueScope's 52-week volume-weighted average price. The structure of the deal remains consistent, with SGH acquiring all of BlueScope's assets and subsequently selling the North American operations to Steel Dynamics. The companies have declared this revised offer as their best and final, contingent on no superior bids emerging from competitors. This development signals a critical juncture for BlueScope as it evaluates the enhanced proposal from its potential suitors.

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