Steel Dynamics and SGH submit AUD$30/share NBIO to acquire BlueScope Steel for AUD$13.2B

STEEL DYNAMICS INC

AUD$30.00 (USD$20.04) per share cash offer for BlueScope Steel Ltd (BSL), valuing equity at AUD$13.2B.
SGH to acquire 100% of BSL, then sell BSL's North American operations (incl. North Star mill) to Steel Dynamics.
Offer is 27% premium to BSL's Dec 11 close of AUD$23.66; 33% premium to 3-month VWAP.
No certainty of transaction; subject to due diligence, regulatory approvals, and binding scheme implementation.
SGH and SDI to fund from cash/debt; no equity raise needed; key management expected to be retained.

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