BlueScope says SGH group's $10.7 billion offer does not address valuation concerns

SGH

25/02/2026 21:44

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 Dynamics STLD.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))