Australia's BlueScope set for worst session in nearly 7 weeks after rejecting SGH bid

BLUESCOPE STEEL

08/01/2026 24:53

** Shares of Australian steelmaker BlueScope BSL.AX fall 2.3% to A$29.18, eyeing their worst session since November 21

** Co rejected an A$13.2 billion ($8.87 billion) takeover offer from Australian conglomerate SGH SGH.AX and U.S.-based Steel Dynamics STLD.O

** The A$30 per share offer was made at a 26.8% premium to the closing price of BlueScope shares on December 11, the day before the bid was received

** SGH shares are down 1.7%

** BSL added 28.8% during 2025

 (Reporting by Shruti Agarwal in Bengaluru)

 ((Shruti.Agarwal@thomsonreuters.com))