Original article by Simon Evans, Kanika Sood
The Australian Financial Review – Page: 1 & 16 : 7-Jan-26

Wilson Asset Management portfolio manager John Ayoub has described a consortium’s offer of $30 per share for BlueScope Steel as an "opening gambit". He notes that previous bids for BlueScope have been pitched at around $33 per share. The takeover bid from the Ryan Stokes-led SGH Limited and US-based Steel Dynamics is valued at $13.2bn, but some market watchers believe that they will need to increase this to at least $15bn for the bid to succeed. Keith Chau from MST Marquee says Nippon Steel and POSCO are among the companies that could potentially make rival bids for BlueScope.

CORPORATES
BLUESCOPE STEEL LIMITED – ASX BSL, SGH LIMITED – ASX SGH, STEEL DYNAMICS INCORPORATED, WILSON ASSET MANAGEMENT, MST MARQUEE, NIPPON STEEL AND SUMITOMO METAL CORPORATION, POSCO