Ryan Stokes-led SGH and its US partner Steel Dynamics have announced an improved takeover proposal for Australia's largest steel producer, valuing BlueScope Steel at $15 billion.
BlueScope Steel's largest shareholder Australian Super says it would only support a "materially higher” bid from SGH and Steel Dynamics, while backing in the board's rejection of the $13.2 billion approach.
BlueScope Steel has panned a takeover bid worth $13 billion from would-be suitors SGH Group and Nasdaq-listed Steel Dynamics.The board unanimously voted ‘no deal’ to the
Ryan Stokes-steered SGH would carve out BlueScope's larger North American division under its $13.2 billion takeover proposal, after labelling the target's global operations as not strategically compatible.
Australia's largest steel producer announced late Monday that US company Steel Dynamics has teamed with Ryan Stokes-led SGH to lob an indicative takeover proposal priced at $30 per share.
A joint venture comprising some of Australia’s largest mining and energy giants will receive $19.8 million from the federal government to aid design of an electric iron smelter in Kwinana.
WA's peak mining lobby group has welcomed a $750 million commitment for green metals projects, announced by Anthony Albanese during a visit to Perth today.
BHP, Rio Tinto, Woodside Energy and BlueScope will partner on an electric smelter ironmaking pilot project at Kwinana, as part of the state's green iron push.
SRG Global has secured a $35 million contract from BlueScope Steel to upgrade the wharf at Port Kembla, building on its work in the marine infrastructure sector.
Western Australia's iron ore giants have inked a deal with Australia's largest steelmaker which could see the country's first electric smelter in an effort to realise green steel ambitions.
BlueScope has posted a drop in first-half net profit and warned of a "material impact" from proposed emissions rules for firms with big industrial facilities.
Perth-based battery technology company and recycler Lithium Australia has appointed an experienced executive and recycling expert as its Chief Executive Officer. Simon Linge has 25 years' senior management experience within the Bluescope Group and BHP, and most recently was an executive at Pact Group Holdings. He takes the helm of Lithium Australia in coming weeks and will be based in Melbourne.
Steelmaker BlueScope has reported a 78 per cent increase in its half year profit, while announcing a chief executive for climate change within the group.
Australia's largest steel maker BlueScope has had a 91 per cent dive in full-year profit after a $197 million write-down of its New Zealand and Pacific Islands operations.
Nine Entertainment, BlueScope Steel and more companies have joined the flood of listed firms cancelling their earnings forecasts as coronavirus chaos spreads.
Shares in BlueScope Steel have fallen more than 20 per cent despite its full-year profit more than doubling, after the company offered a mixed outlook on the back of rising costs.
Fortescue Metals Group chair Andrew Forrest has taken a shot at his iron ore mining competitors for mining “the easy stuff” and not working to bring subeconomic ores up to a mineable level, speaking at the company's annual general meeting today.
Indian sandalwood producer TFS Corporation has refinanced $US200 million of debt through a note issue overnight in the US, while also raising extra funds for working capital.
SPECIAL REPORT: The number of hostile takeover bids confronting Australian companies may be relatively low, but disruption from sources such as activist groups and shareholder class actions is a growing challenge for directors.
BlueScope's Port Kembla steelworks may still be on borrowed time despite a three-year tax break from the NSW government that secures the immediate future of its 4,500 workers.
Former Toll Group executive Paul Ebsworth has been appointed chief operating officer of the Perth-grown auto retailer and logistics firm Automotive Holdings Group.
