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Billionaire Stokes Raises BlueScope Bid to $15 Billion

2/18/2026

46 9 Full Breakdown

Summary

Story summary

Kerry Stokes (Australian billionaire) and Steel Dynamics, Inc. (U.S. steel company) have increased their bid for BlueScope to $15 billion, valuing shares at $32.35.
BlueScope's board will review the "best and final" offer after rejecting a bid as undervalued.
BlueScope reported an 81% rise in earnings to $558 million, aided by U.S. steel tariffs.
BlueScope plans to distribute $3 per share to investors via dividends and a buyback.

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Story summary

Kerry Stokes (Australian billionaire) and Steel Dynamics, Inc. (U.S. steel company) have increased their bid for BlueScope to $15 billion, valuing shares at $32.35.
BlueScope's board will review the "best and final" offer after rejecting a bid as undervalued.
BlueScope reported an 81% rise in earnings to $558 million, aided by U.S. steel tariffs.
BlueScope plans to distribute $3 per share to investors via dividends and a buyback.