BlueScope Steel weighs up $15.2b takeover bid

It's the fourth offer for New Zealand Steel's owner led by Steel Dynamics, but the first involving the Kerry Stokes-controlled SGH Limited conglomerate.

Steelmaking at NZ Steel's Glenbrook mill.

The ASX-listed owner of New Zealand Steel, BlueScope, has confirmed an "indicative" proposal from a consortium comprising industrial conglomerate SGH Limited and US-based Steel Dynamics for A$30 ($34.80) per share.

The offer, received on December 12, would see SGH acquire all of BlueScope's shares

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Brent Melville Tue, 06 Jan 2026

Contact the Writer: bmelville@nbr.co.nz

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