SGH Ltd and Steel Dynamics, Inc. confirm the submission of a Non-Binding Indicative Offer (NBIO) to acquire 100% of BlueScope Steel Ltd.
The proposal includes the on-selling of BSL's North American operations to SDI and retaining the Australia + Rest of World operations by SGH.
The offer of AUD$30.00 per share represents a compelling value proposition for BSL shareholders.
Compelling Value for Shareholders
The offer provides a premium value compared to BSL's share price and is supported by robust financial metrics.
Strategic Compatibility
SGH and SDI believe BSL's businesses in Australia and North America would benefit from separate ownership.
Proposed Transaction Details
Subject to customary conditions, including due diligence and regulatory approvals, with no certainty of finalizing the deal.
- The proposed acquisition aims to deliver compelling value to BSL shareholders and other stakeholders.
- The strategic combination of BSL's North American business with SDI and SGH's support for a standalone BSL Australia + Rest of World business are key drivers of the transaction.
The acquisition proposal by SGH and Steel Dynamics presents a significant opportunity for BlueScope Steel Ltd and its shareholders, highlighting the potential for value creation and strategic alignment in the industry.