BlueScope plays down $8.8B takeover bid

Australia’s BlueScope Steel (ASX: BSL) said Monday it will likely reject an A$13.2 billion (US$8.8 billion) takeover proposal from a consortium led by Kerry Stokes-backed SGH (ASX: SGH) and U.S.-based Steel Dynamics (Nasdaq: STLD). The proposal, submitted on Dec. 12,...

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