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SGH’s Ryan Stokes takes BlueScope takeover pressure public.
Good morning.
Capital Brief’s Brandon How reported SGH chief Ryan Stokes said at the Macquarie Australia Conference he and US partner Steel Dynamics can’t lift their bid for BlueScope without breaching takeover law.
Yet Stokes complained to the AFR that BlueScope won’t say what price it would actually recommend.
“At what value would they recommend the transaction to shareholders? [BlueScope] shareholders have a right to understand what that is, in my view,” Stokes demanded.
With no apparent engagement between the two sides since February, Stokes is clearly taking the pressure public.
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