BlueScope says SDI-SGH bid falls short but keeps door open

BlueScope Steel has responded to Steel Dynamics Inc.’s (SDI’s) and SGH’s “best and final” offer to take over the steel company. While not outright rejecting a takeover, BlueScope believes the offer is undervalued and remains open to talks.

Jane McAloon, BlueScope chair, sent a letter to the CEOs of SDI and SGH on Feb. 26. The letter outlined the Australian steelmaker’s assessment of the consortium’s headline offer price of A$34.00 per share. It additionally set out the basis on which the board is willing to engage further in talks.

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. She has held various editorial positions with steel industry publications, associations, and mills since 2007. She joined the SMU team in 2022. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania.

Laura Miller

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