Market Chatter: AustralianSuper Says Support for BlueScope Deal Only Possible for Price Higher Than SGH Consortium's Bid of AU$30 Per Share

MT Newswires Live

Jan 09

A spokesperson for AustralianSuper, a significant shareholder in BlueScope Steel (ASX:BSL), said that it supports BlueScope's decision to reject a takeover bid from from a consortium comprising SGH (ASX:SGH) and the US-listed Steel Dynamics and that it would only support a deal that was materially higher than the currently proposed price of AU$30 per share, according to media reports on Friday.

BlueScope rejected an unsolicited, non-binding, indicative, and conditional takeover proposal received from the consortium on Wednesday for AU$30 per share, representing a total equity value of AU$13.2 billion.

BlueScope revealed in a Thursday bourse filing that AustralianSuper had increased its stake in the company to 13.5% from 12.5%.

BlueScope's shares rose a little over 1% in recent trading on Friday.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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This information is believed to be from reliable sources but may include rumor and speculation. 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This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7120","symbol_name":"特殊消费者服务","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2602345482","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2602345482","pubTimestamp":1767930028,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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