BlueScope Steel shares drop 1% after rejecting $9 billion takeover bid

Steel Dynamics

07/01/2026 23:12

SYDNEY, Jan 8 (Reuters) - Shares of BlueScope Steel BSL.AX were down 1.1% in early trading on Thursday after the company rejected a $9 billion takeover offer from SGH SGH.AX and U.S-based Steel Dynamics STLD.O

SGH shares were off 0.7% after BlueScope said the $A30 per share SGH-led offer "very significantly undervalued" the Australian steel maker.

 (Reporting by Scott Murdoch; Editing by Chris Reese)

 ((Scott.Murdoch@thomsonreuters.com;))