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BlueScope spurns $10.7 billion offer, but leaves door open to talks
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BlueScope spurns $10.7 billion offer, but leaves door open to talks

#BlueScope #Steel Dynamics #SGH #Takeover bid #Corporate valuation #Australian market #North American assets

📌 Key Takeaways

  • BlueScope rejected A$15 billion bid as insufficient
  • Company remains open to further talks under certain conditions
  • This marks the fifth takeover attempt from Steel Dynamics
  • BlueScope shares fell 2.33% after the announcement

📖 Full Retelling

BlueScope Steel rejected a A$15 billion ($10.7 billion) revised bid from SGH and U.S.-based Steel Dynamics in Sydney on February 26, 2026, sending its shares down almost 5% but leaving the door open to further talks, stating the offer doesn't reflect the fair value of the company, particularly regarding its North American assets. The Australian steel producer's board said it was willing to engage with the consortium on a bid that better reflects 'the fair value of BlueScope,' compared with the revised A$34 per share offer, pressing for a better understanding of how its North American assets would be valued in the potential acquisition. The rejection marks BlueScope's fifth takeover attempt from Steel Dynamics, including two joint bids made alongside SGH, as the company continues to assert its independence while potentially remaining open to a sufficiently attractive offer. Following the announcement, BlueScope shares fell as much as 4.9% on Thursday before recovering some ground to close 2.33% lower, while the benchmark S&P/ASX200 closed 0.51% higher, indicating market confidence in the broader Australian economy despite the corporate news.

🏷️ Themes

Corporate Takeover, Steel Industry, Market Response

📚 Related People & Topics

Takeover

Purchase of a company by another company

In business, a takeover is the purchase of one company (the target) by another (the acquirer or bidder). In the UK, the term refers to the acquisition of a public company whose shares are publicly listed, in contrast to the acquisition of a private company. Management of the target company may or ma...

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Business valuation

Determination of the economic value of a business

Business valuation is a process and a set of procedures used to estimate the economic value of an owner's interest in a business. Here various valuation techniques are used by financial market participants to determine the price they are willing to pay or receive to effect a sale of the business. In...

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BlueScope

BlueScope

Australian steel producer

BlueScope Steel Limited is an Australian flat product steel producer that was spun-off from BHP Billiton in 2002.

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SGH

Topics referred to by the same term

SGH may refer to:

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Steel Dynamics

American materials company

Steel Dynamics, Inc. (SDI) is an American steel producer based in Fort Wayne, Indiana. With a production capacity of 13 million tons of steel, the company is the third largest producer of carbon steel products in the United States.

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Entity Intersection Graph

Connections for Takeover:

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Original Source
try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Nasdaq ends more than 1% higher as Nvidia rises pre-earnings, tech extends rebound Gold prices head for fifth day of gains in six; JPMorgan sees more upside Nvidia set to report strong results and guidance, analysts say Selloff in this large IT stock offers a ’great buying opportunity into 2026’ (South Africa Philippines Nigeria) BlueScope spurns $10.7 billion offer, but leaves door open to talks By Reuters Stock Markets Published 02/25/2026, 07:12 PM Updated 02/26/2026, 01:18 AM BlueScope spurns $10.7 billion offer, but leaves door open to talks 0 BSL -2.33% STLD 0.35% By Scott Murdoch and Christine Chen SYDNEY, Feb 26 - Australia’s BlueScope Steel rejected a A$15 billion ($10.7 billion) revised bid from SGH and U.S.-based Steel Dynamics , sending its shares down almost 5% on Thursday, but said it was open to further talks. BlueScope’s board said it was willing to engage with the consortium on a bid that reflects "the fair value of BlueScope", compared with the revised A$34 per share offer, pressing for a better understanding of how its North American assets would be valued. "The offer price is not sufficient for the board to recommend a scheme of arrangement to its shareholders," the takeover target said. The bid’s value is reduced to A$32.35, following a A$1 special dividend declared in January and BlueScope’s A$0.65 per share interim dividend. BlueScope has said it intends to distribute a further A$1.35 per share to investors in 2026. BlueScope has now knocked back five takeover attempts from Steel Dynamics , including two joint bids made alongside SGH. BlueScope shares fell as much as 4.9% on Thursday, before recovering some ground to close 2.33% lower. The benchmark S&P/ASX200 closed 0.51% higher. "It’s obviously negative in the short-term, there’s no doubt about that. But BlueScope continues to have good operations and we’re confident the price can materially increase over the medium-term," said Jamie ...
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