SGH says BlueScope’s Australian and North American businesses better off with separate ownersSean SmithThe NightlyTue, 6 January 2026 7:44AMEmail Sean Smith
SGH believes BlueScope’s Australian and North American businesses would benefit from separate owners, urging the country’s biggest steel-maker to accept a $13.2 billion joint takeover offer.
BlueScope late on Monday confirmed that it was considering a $30-a-share cash offer by SGH and US group Steel Dynamics that would see the group split between the bidding partners if successful.
SGH, which is majority owned by Kerry Stokes’ family companies, said on Tuesday that BlueScope’s Australian and North American businesses “are not strategically compatible and would benefit as stand-alone businesses under new ownership”.
Under their plan, SGH would take ownership of BlueScope’s Australian interests, leaving Steel Dynamics – North America’s biggest metals recycler and fourth largest steel producer – to run BlueScope’s North American businesses.
More to come.
Get the latest news from thewest.com.au in your inbox.
Sign up for our emails
Read more on The West Australian
