Steel Dynamics and SGH submit best and final A$32.35/share all-cash offer for BlueScope Steel

STEEL DYNAMICS INC

Offer of A$32.35/share (adjusted for dividends) implies total equity value of A$15B (US$11B), all cash.
Premiums: 47% to BSL's undisturbed price, 56% to 52-week VWAP, 32% to 15-year high.
Post-close, SGH would on-sell BSL's North American operations to Steel Dynamics.
Proposal subject to due diligence, regulatory approvals, and binding scheme implementation deed.
SDI and SGH state this is best and final absent a superior competing proposal.

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