BlueScope Steel Limited's (ASX: BSL) board has rejected an unsolicited takeover offer from SGH Limited and Steel Dynamics, deeming it highly undervalued. The proposal suggested acquiring all shares for AU$30 per share but failed to reflect BlueScope’s robust assets, growth potential, and ongoing initiatives. The board highlighted that the bid disregarded BlueScope's world-class portfolio, which includes premium brands like COLORBOND® and TRUECORE® steel. In recent years, the company has committed more than AU$3.7 billion to growth initiatives, delivering substantial returns to shareholders, while consistently achieving an 18% average return on invested capital. Additionally, BlueScope’s multi-domestic strategy, cost-saving initiatives, and significant earnings growth opportunities were underscored, particularly with an anticipated AU$500 million EBIT uplift by 2030. The board remains confident in BlueScope's ability to deliver superior value and is focused on further accelerating its growth trajectory.
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BlueScope Rejects Opportunistic Takeover Proposal
BlueScope Steel Limited's (ASX: BSL) board has rejected an unsolicited takeover offer from SGH Limited and Steel Dynamics, deeming it highly undervalued. The proposal suggested acquiring all shares for AU$30 per share but failed to reflect BlueScope’s robust assets, growth potential, and ongoing initiatives. The board highlighted that the bid disregarded BlueScope's world-class portfolio, which includes premium brands like COLORBOND® and TRUECORE® steel. In recent years, the company has committed more than AU$3.7 billion to growth initiatives, delivering substantial returns to shareholders, while consistently achieving an 18% average return on invested capital. Additionally, BlueScope’s multi-domestic strategy, cost-saving initiatives, and significant earnings growth opportunities were underscored, particularly with an anticipated AU$500 million EBIT uplift by 2030. The board remains confident in BlueScope's ability to deliver superior value and is focused on further accelerating its growth trajectory.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au