InvestSMART

BlueScope Steel Limited (ASX:BSL)

ALERT: Price-sensitive ASX Announcement for BSL
Current share price for BSL : $30.520 2.52 (9%)+
Announcement
Release
18 Feb 2026 9:00AM
Price at Release
$28.000
Full Release
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Summary
SGH Ltd and Steel Dynamics, Inc. (SDI) have proposed a final offer to acquire 100% of BlueScope Steel Ltd (BSL) for A$32.35 per share, amounting to a total equity value of A$15 billion (US$11 billion), payable entirely in cash. The offer represents a significant premium over BSL’s recent trading metrics, indicating a compelling value proposition for shareholders. If successful, SGH will retain BSL’s operations outside of North America, while SDI will acquire the North American assets. This strategic acquisition aligns with both SGH’s and SDI’s business plans and is subject to regulatory and shareholder approvals.
Key Points
  • SGH Ltd and Steel Dynamics, Inc. (SDI) confirmed a best and final proposal to acquire BlueScope Steel Ltd (BSL) at A$32.35 per share.
  • The proposal values BSL at A$15 billion, which is approximately US$11 billion, to be paid entirely in cash.
  • The offer includes a 47% premium to BSL’s adjusted closing share price at the initial proposal and a 56% premium to BSL’s 52-week volume-weighted average share price.
  • SGH plans to on-sell BSL’s North American operations to SDI while retaining BSL’s 'Australia + Rest of World' operations.
  • The acquisition aligns with SGH’s capital allocation strategy and aims to improve performance through SGH’s operating model.
  • The acquisition is subject to customary conditions including due diligence, regulatory, and shareholder approvals.
  • SGH and SDI see this acquisition as complementing SDI’s existing operations and enhancing their business platforms.
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.