Overview
- SGH and Steel Dynamics propose an all‑cash offer valuing BlueScope at about A$15 billion, described as best and final absent a superior rival bid.
- The A$32.35 per‑share figure reflects a pre‑adjusted A$34 price reduced for A$1.65 in recently declared dividends.
- The consortium plans a split in which SGH would retain Australia plus Rest of World operations while BlueScope’s North American business would be on‑sold to Steel Dynamics.
- BlueScope confirmed receipt and said directors will evaluate the approach against the company’s fundamental value and the proposal’s executability, with conditions including due diligence, binding documentation and regulatory and shareholder approvals.
- BlueScope shares rose in immediate trading, touching A$29.67, as the company also outlined about A$3 per share of 2026 returns, including a A$1 special dividend and a A$310 million buyback.