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BlueScope Steel Limited (ASX:BSL)

ALERT: Price-sensitive ASX Announcement for BSL
Current share price for BSL : $30.210 0.34 (1.14%)+
Announcement
Release
7 Jan 2026 7:15PM
Price at Release
$29.870
Full Release
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Summary
BlueScope Steel Limited's Board has unanimously rejected an unsolicited takeover proposal from a consortium led by SGH Limited and Steel Dynamics, Inc. The offer was deemed highly opportunistic, offering $30.00 per share minus future dividends, which the Board believes significantly undervalues BlueScope's world-class assets, growth prospects, and financial position. The proposal also sought to leverage BlueScope's balance sheet for a debt-funded acquisition, a move that BlueScope's Board found unacceptable. BlueScope emphasizes its strong asset base, including significant investments and growth initiatives leading to expected substantial financial returns. The Board remains confident in delivering superior shareholder value under the leadership of the incoming MD&CEO, Tania Archibald.
Key Points
  • BlueScope rejects takeover proposal from SGH and Steel Dynamics.
  • Proposal valued at $30.00 per share minus future dividends.
  • Board deems offer significantly undervalues BlueScope.
  • BlueScope's assets and growth initiatives not fully recognized.
  • Consortium intended to debt-fund takeover using BlueScope's balance sheet.
  • BlueScope has no net debt at FY2025.
  • Board confident in management under new MD&CEO Tania Archibald.
  • BlueScope has invested over $3.7 billion in growth projects since FY2017.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.