Markets
After a transformative run of regulatory wins and commercial deals, the company has secured the backing of major investors in the first big equity raise of the year led by Bell Potter.
The steelmaker fired a fresh shot in its takeover defence, announcing a $1-per-share special dividend, but sources close to the bidders have dismissed the move as an act of desperation.
The $2.3b market darling is expected to raise $150m after an extraordinary 5-month share price surge, but investors are split on whether the dream run can continue.
