Posted in | News | Ferrous Alloys and Metals | Business | Iron and Steel

BlueScope Steel Acquires 19.9% Share in Smorgon Steel

Aug 18 2006

BlueScope Steel today announced it has acquired approximately 19.9% of the outstanding shares in Smorgon Steel.

The intention of acquiring this strategic stake is to ensure that the OneSteel/Smorgon Steel merger proposal does not proceed in its current form.

BlueScope Steel has noted the concerns identified by the ACCC in its initial review of the proposed merger.

The Company has no intention to acquire further Smorgon Steel shares, but reserves the right to do so in different circumstances

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