---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-016583"
form_type: "8-K"
ticker: "STLD"
cik: "0001022671"
company_name: "STEEL DYNAMICS INC"
filed_at: "2026-02-17T23:59:59+00:00"
generated_at: "2026-05-16T02:17:53.329408+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-26-016583
- form_type: 8-K
- ticker: STLD
- cik: 0001022671
- company_name: STEEL DYNAMICS INC
- filed_at: 2026-02-17T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1022671/000110465926016583/0001104659-26-016583-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1022671/000110465926016583/tm266672d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-016583
- JSON: https://secwatch.observer/filing/0001104659-26-016583.json
- Plain text: https://secwatch.observer/filing/0001104659-26-016583.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.