Markets

Rio Tinto laid out a new “stronger, faster, simpler” strategy just last month. Now its plans to create a sprawling mega miner through a merger with its Anglo-Swiss rival have been given an early vote of no confidence.

BlueScope’s emphatic rejection of SGH and Steel Dynamics’ bid has hardened positions. Market watchers think this may be just the start of the takeover saga.

Trump's aggressive tariffs ultimately led to the spurned $13 billion bid for BlueScope Steel. But an improved offer or a rival bid could see the price tag rise higher.