Overview
- The company calculates the A$34 per share proposal at A$32.35 after a A$1 special dividend and A$0.65 interim payout, with a further A$1.35 per share distribution signaled for 2026.
- Directors object to hard exclusivity and a requirement to recommend the deal before due diligence, calling the conditions inappropriate for a non‑binding proposal.
- BlueScope seeks clearer detail on takeover funding and on how its North American business would be valued, as that unit would be sold to Steel Dynamics under the plan.
- The board remains open to discussions and limited due diligence if the consortium increases the value and removes unacceptable terms.
- Shares fell nearly 5% after the announcement before paring losses, while SGH declined comment and Steel Dynamics did not immediately respond.