Australia news live: BlueScope rejects $13.2bn Stokes bid; police warn of shopping centre carpark scam | Australia news
BlueScope rejects Stokes’ $13.2 billion offer as “significantly undervalued”
Kerry Stokes and its US partners will have to find more cash from now on BlueScope Steel He rejected the $13.2 billion takeover offer on the grounds that it was too low and was an attempt to buy the company “on the cheap”, according to the Australian Associated Press.
US-based industrial metals group Steel Dynamics Stokes teamed up with those under his control SGH Annoyed with the aim of acquiring the company’s North American operations.
They had offered $30 per share; this was a 27% premium to the trading price of BlueScope shares when the offer was made on December 12. Steel Dynamics had made three previous unsuccessful attempts to gain control of BlueScope.
Shares in the Port Kembla Steelworks operator rose 20.6% yesterday to a 17-year high of $29.48 after the takeover bid was first made public on Monday night.
BlueScope’s chair, Jane McAloonIn a statement to the ASX late yesterday, he said the board had unanimously rejected the offer.
Let me be clear – This offer was an attempt to buy BlueScope cheaply from its shareholders. He has greatly underestimated our world-class assets, growth momentum and future, and the board will not allow it.
This was the fourth time we said no, and the answer remained the same: BlueScope is worth much more than what’s on the table.
important events
Pro-Palestinian groups plan Melbourne rally against Herzog visit
Pro-Palestinian groups are planning a rally in Melbourne on Sunday to protest the Israeli president’s state visit. Isaac HerzogThey are holding a press conference at 10am this morning At the State Library of Victoria.
Groups involved in planning the rally include Students for Palestine Australia, which called on supporters to hand out flyers promote noon rally At the State Library.
They claim Herzog was complicit in Israel’s military bombardment of Gaza following a Hamas attack on Israel more than two years ago.
A group of Labor Party members have expressed anger at their country’s military bombardment of Gaza, calling on the Albanian government to cancel an invitation for Israeli president Isaac Herzog to visit Australia. Herzog planned the visit to show support for the victims of the Bondi terrorist attack.
Read our full story on the controversy surrounding Herzog’s visit here:
Police warn elderly people shopping in shopping center car parks against theft and fraud
NSW police are investigating a series of reports of elderly drivers allegedly being stolen from and defrauded in shopping center car parks across the state.
Police said on Thursday they had been notified of 18 new incidents, including from Newcastle to Wagga Wagga and various Sydney suburbs.
On Wednesday, two men, aged 37 and 57, were arrested at a service station in Glenthorne and each charged with 72 offenses relating to alleged fraud, theft and trespassing. Both men were refused bail to appear in court today.
Police allege one of the men approached the elderly female victims, claimed there was something wrong with their vehicle and asked them to lift the hood to check.
It was alleged that another person stole items such as wallets, bags, cash and cards from inside the vehicle while the hood was open.
Police have also released images of two other men they wish to speak to in connection with the investigation.
BlueScope rejects Stokes’ $13.2 billion offer as “significantly undervalued”
Kerry Stokes and its US partners will have to find more cash from now on BlueScope Steel He rejected the $13.2 billion takeover offer on the grounds that it was too low and was an attempt to buy the company “on the cheap”, according to the Australian Associated Press.
US-based industrial metals group Steel Dynamics Stokes teamed up with those under his control SGH Annoyed with the aim of acquiring the company’s North American operations.
They had offered $30 per share; this was a 27% premium to the trading price of BlueScope shares when the offer was made on December 12. Steel Dynamics had made three previous unsuccessful attempts to gain control of BlueScope.
Shares in the Port Kembla Steelworks operator rose 20.6% yesterday to a 17-year high of $29.48 after the takeover bid was first made public on Monday night.
BlueScope’s chair, Jane McAloonIn a statement to the ASX late yesterday, he said the board had unanimously rejected the offer.
Let me be clear – This offer was an attempt to buy BlueScope cheaply from its shareholders. He has greatly underestimated our world-class assets, growth momentum and future, and the board will not allow it.
This was the fourth time we said no, and the answer remained the same: BlueScope is worth much more than what’s on the table.
Welcome
Martin Farrer
Good morning and welcome to our live news blog. I Martin Farrer with the best night stories and then Nick Visser will bring you the main action.
Pro-Palestinian groups are planning a rally in Melbourne on Sunday to protest the Israeli president’s state visit. Isaac HerzogThey are holding a press conference this morning at the State Library of Victoria. This is a Labor Party group Albanian decided to cancel the government’s official invitation to Herzog. More to come.
Kerry Stokes After BlueScope Steel rejected an attempt to buy the company “on the cheap” by calling its $13.2 billion takeover offer too low and its US partners will have to find more cash. More details are coming.
And police have warned about elderly drivers allegedly being ripped off and stolen from NSW shopping center car parks.
