BlueScope says SGH group's $10.7 billion offer does not address valuation concerns
Reuters
Feb 26
BlueScope says SGH group's $10.7 billion offer does not address valuation concerns
Feb 26 (Reuters) - Australia's BlueScope Steel BSL.AX said on Thursday that the A$15 billion ($10.69 billion) revised proposal from the SGH SGH.AX and U.S.-based Steel DynamicsSTLD.O consortium does not adequately address its valuations concerns, adding that there are ways to increase the value for shareholders.
BlueScope's board said it remains open to a transaction at a price that reflects "the fair value of BlueScope", while not explicitly mentioning that it is rejecting the revised offer.
($1 = 1.4037 Australian dollars)
(Reporting by Sneha Kumar in Bengaluru; Editing by Alan Barona)
((Sneha.Kumar@thomsonreuters.com))
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.