SGH and Steel Dynamics competed in an auction to acquire Severstal North America (previously known as Boasteel) with a final winning bid of 10.6 billion US dollars.

SGH Limited, a holding company owned by media billionaire Kerry Stokes, and Steel Dynamics Corporation of the United States, have increased their acquisition bid for Australian steel manufacturer BHP Steel to 15 billion Australian dollars, in a bid to competitively acquire the Australian steel company. BHP Steel, headquartered in Melbourne, saw its stock price rise sharply by 5.5% to 29.55 Australian dollars in early trading. SGH and Steel Dynamics announced on Wednesday that they will acquire BHP Steel shares at 32.35 Australian dollars per share in cash. This offer does not include the recent dividend announced by BHP Steel, and is 8% higher than the previous bid of 30 Australian dollars per share, which was rejected on the grounds of undervaluation. The new offer represents a 15.5% premium over BHP Steel's closing price of 28.00 Australian dollars on Tuesday. In a joint statement, the two parties stated: "In the absence of a superior competitive offer for all or core assets of BHP Steel, this increased bid represents the final best offer from SGH and Steel Dynamics."