05:45 PM EST, 02/17/2026 (MT Newswires) -- Steel Dynamics ( STLD ) said late Tuesday that together with SGH, it has submitted a revised non-binding indicative offer of 32.35 Australian dollars per share ($22.92) to acquire 100% of BlueScope Steel.

The revised purchase price represents best and final offer in the absence of a higher competing bid for all or a material part of BlueScope, the company said.

The company said the consideration represents a total equity value for BlueScope of about $11 billion, comprising entirely of cash.

If the proposal is implemented and after the transaction closes, SGH would on-sell BlueScope's North American operations to Steel Dynamics ( STLD ), and SGH would hold the remaining BlueScope "Australia + Rest of World" operations, according to the statement.