SGH-Led Group Sweetens Bid for BlueScope Steel

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SGH (ASX:SGH), along with Nasdaq-listed metal solutions firm Steel Dynamics, submitted a revised non-binding indicative offer to fully acquire BlueScope Steel (ASX:BSL) for AU$32.35 apiece, representing a total equity value of AU$15 billion, according to a Wednesday filing with the Australian bourse.

The offer is SGH and Steel Dynamics' best and final offer for BlueScope and represents a 56% premium to the BSL stock's one-year volume-weighted average share price, the filing said.

Last month, SGH and Steel Dynamics had offered to buy BlueScope for AU$30 apiece, representing a total equity value of AU$13.2 billion, an earlier filing showed.

In a separate Wednesday bourse filing, BlueScope said the board will consider the revised offer. The board rejected the previous proposal, saying it "significantly" undervalued the company.

Shares of SGH rose past 1% in recent Wednesday trade, while shares of BlueScope Steel rose 3%.

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The board rejected the previous proposal, saying it \"significantly\" undervalued the company.</p><p>Shares of SGH rose past 1% in recent Wednesday trade, while shares of BlueScope Steel rose 3%.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BSL.AU","symbol_name":"BLUESCOPE STEEL LTD","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2612925944","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2612925944","pubTimestamp":1771379938,"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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