# EDGAR Filing Document

**Accession Number:** 0001022671
**File Stem:** 0001104659-26-016583
**Filing Date:** 2026-2
**Character Count:** 11510
**Document Hash:** 026bf4e6f5b4decebbc3a226a06e83b0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-016583.hdr.sgml**: 20260217

**ACCESSION NUMBER**: 0001104659-26-016583

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20260217

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260217

**DATE AS OF CHANGE**: 20260217

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** STEEL DYNAMICS INC
- **CENTRAL INDEX KEY:** 0001022671
- **STANDARD INDUSTRIAL CLASSIFICATION:** STEEL WORKS, BLAST FURNACES  ROLLING MILLS (COKE OVENS) [3312]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 351929476
- **STATE OF INCORPORATION:** IN
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-21719
- **FILM NUMBER:** 26643618

**BUSINESS ADDRESS:**
- **STREET 1:** 7575 W JEFFERSON BLVD
- **CITY:** FORT WAYNE
- **STATE:** IN
- **ZIP:** 46804
- **BUSINESS PHONE:** 260 459 3553

**MAIL ADDRESS:**
- **STREET 1:** 7575 W JEFFERSON BLVD
- **CITY:** FORT WAYNE
- **STATE:** IN
- **ZIP:** 46804

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (date of earliest event reported) **February 17, 2026**

**STEEL DYNAMICS, INC.**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Indiana** | **0-21719** | **35-1929476** |
| (State or other jurisdiction<br> of incorporation) | (Commission File Number) | (IRS Employer<br> Identification No.) |

---

**7575 West Jefferson Blvd** **, Fort Wayne, Indiana 46804**

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: **260** **-969-3500**

**Not Applicable**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

◻ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol | Name of each exchange on which registered |
| Common Stock voting, $0.0025 par value | STLD | NASDAQ Global Select Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

**Item 7.01. Regulation FD Disclosure.**

On February 17, 2026, Steel Dynamics, Inc., jointly with SGH Ltd, issued a press release titled "SGH and Steel Dynamics confirm best and final A$32.35 share proposal to acquire BlueScope Steel Ltd." A copy of that press release is attached hereto as Exhibit 99.1.

The information contained in Exhibit 99.1 is furnished under this Item 7.01 and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or incorporated by reference in any filing thereunder or under the Securities Act of 1933, as amended, except as may be expressly set forth by specific reference in any such filing.

**Item 9.01. Financial Statements and Exhibits**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp; Exhibits.

The following exhibit is furnished with this report:

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| | |
|:---|:---|
| Exhibit Number | Description |
| [99.1](tm266672d1_ex99-1.htm) | [A press release issued February 17, 2026, titled "SGH and Steel Dynamics confirm best and final A$32.35 share proposal to acquire BlueScope Steel Ltd."](tm266672d1_ex99-1.htm) |
| 104 | Cover Page Interactive Data File – the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. |

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**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereto duly authorized.

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| | | |
|:---|:---|:---|
|  |  | STEEL DYNAMICS, INC.<br>/s/ Theresa E. Wagler |
| Date: February 17, 2026 | By: | Theresa E. Wagler |
|  | Title: | Executive Vice President and Chief Financial Officer |

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## Exhibit 99.1

**Exhibit 99.1**

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| | |
|:---|:---|
| ![](tm266672d1_ex99-1img001.jpg) | ![](tm266672d1_ex99-1img002.jpg) |

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**SGH and Steel Dynamics confirm best and final A$32.35 share proposal<sup>1</sup> to acquire<br> BlueScope Steel Ltd**

FORT WAYNE, INDIANA, February 17, 2026 / PRNewswire / SGH Ltd (SGH) (ASX:SGH) and Steel Dynamics, Inc. (SDI) (NASDAQ/GS:STLD) confirm that together they have submitted a revised Non-Binding Indicative Offer (NBIO) to acquire 100% of BlueScope Steel Ltd (BSL) (ASX:BSL). The revised offer of A$32.35 per share (equivalent to A$34.00 per share prior to deductions of A$1.65, consisting of BSL's $1.00 per share unfranked special dividend and A$0.65 unfranked interim dividend)<sup>1</sup> represents a compelling value proposition and highly attractive premium for BSL shareholders. The increased purchase price represents SGH and SDI's best and final offer in the absence of a superior competing proposal for all or a material part of BSL.

The consideration represents a total equity value for BSL of A$15 billion (US$11 billion) to be comprised entirely of cash.

The revised offer implies significant premiums to undisturbed trading metrics:

&nbsp;&nbsp;&nbsp;&nbsp;· a 47% premium to BSL's adjusted closing
share price at our initial proposal<sup>2</sup>;

&nbsp;&nbsp;&nbsp;&nbsp;· a 14% increase to the adjusted initial proposal
price of A$28.35<sup>3</sup>;

&nbsp;&nbsp;&nbsp;&nbsp;· a 56% premium to BSL's 52-week volume-weighted
average share price<sup>4</sup>; and

&nbsp;&nbsp;&nbsp;&nbsp;· a 32% premium to BSL's 15-year high share
price<sup>5</sup>.

As previously disclosed, if the proposal is implemented and following the transaction close, SGH would on-sell BSL's North American operations to SDI, and SGH would retain the remaining BSL "Australia + Rest of World" operations.

The proposed acquisition is closely aligned with SGH's stated capital allocation criteria, with an opportunity to support performance improvement through the disciplined application of the SGH operating model. SGH is uniquely positioned to be the steward of BSL's Australia + Rest of World businesses as a leading Australian industrial platform with diversified operations across a range of businesses and a strong capital foundation.

The revised proposal continues to present a highly strategic opportunity for SDI shareholders and would uniquely complement SDI's steel production, coating, metals recycling, and building products platforms. The proposed transaction is also closely aligned with SDI's capital allocation and credit profile framework.

SGH and SDI look forward to productive engagement with BSL to progress our customary due diligence requirements, transaction documentation and to a successful completion of the acquisition.

<sup>1</sup> Based on a pre-adjusted offer price of A$34.00 per share, reduced by A$1.65 / share for the BSL A$1.00 unfranked special dividend declared 14 January 2026 (ex-dividend date 20 January 2026) and A$0.65 unfranked interim dividend declared 16 February 2026 (ex-dividend date 20 February 2026).

<sup>2</sup> Based on BSL's closing share price of A$23.66 per share on 11 December 2025, less A$1.65 per share as described in Footnote 1.

<sup>3</sup> Adjusted for dividends as described in Footnote 1.

<sup>4</sup> Based on BSL's 52-week VWAP of A$22.44 per share up to and including 11 December 2025, less A$1.65 per share as described in Footnote 1.

<sup>5</sup> Based on BSL's 15-year high of A$26.15 per share up to and including 11 December 2025, less A$1.65 per share as described in Footnote 1.

**SGH Ltd** \| ABN 46 142 003 469

Level 30, 175 Liverpool Street, Sydney NSW 2000 \| Postal Address: PO Box 745, Darlinghurst NSW 1300

Telephone +61 2 8777 7574

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| | |
|:---|:---|
| ![](tm266672d1_ex99-1img001.jpg) | ![](tm266672d1_ex99-1img002.jpg) |

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SGH and SDI's NBIO is subject to customary regulatory approvals, and they do not believe there are any material obstacles in obtaining the relevant approvals. The proposal is subject to customary conditions, including completion of satisfactory due diligence, agreement of a binding scheme implementation deed, and receipt of relevant shareholder and regulatory approvals.

SGH will provide further updates to the market as material developments occur in accordance with<br> ASX disclosure obligations. SGH is unaware of any other matters requiring disclosure according to the ASX listing rules and confirms adherence to ASX Listing Rule 3.1. This announcement has been authorised by the SGH Board for release to the ASX and NASDAQ by SDI.

**Forward-looking statements**

This press release contains some predictive statements about future events. These statements, which we generally precede or accompany by such typical conditional words as "anticipate", "intend", "believe", "estimate", "plan", "seek", "project", or "expect", or by the words "may", "will", or "should", are intended to be made as "forward-looking", subject to many risks and uncertainties, within the safe harbor protections of the Private Securities Litigation Reform Act of 1995. These statements speak only as of this date and are based upon information and assumptions, which we consider reasonable as of this date, concerning our businesses and the environments in which they operate. Such predictive statements are not guarantees of future performance, and we undertake no duty to update or revise any such statements.

Discussions with BSL in relation to the NBIO remain incomplete and ongoing. SGH and SDI have made no final decision to make a binding proposal, and notes there is no certainty that the NBIO will result in a transaction.

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| | |
|:---|:---|
| **For investor information, please contact:** | **For media enquiries, please contact:** |
| Daniel Levy - Head of IR and Communications | Robert Skeffington - FTI Consulting \| +61 427 023 810 |
| +61 2 8777 7106 \| investorrelations@sghl.com.au | Robert.skeffington@fticonsulting.com; or |
| David A. Lipschitz - Investor Relations Director | Shane Murphy - FTI Consulting \| +61 420 945 291 |
| +1 (260) 469-4394 \| investor@steeldynamics.com | Shane.murphy@fticonsulting.com |

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**SGH Ltd** \| ABN 46 142 003 469

Level 30, 175 Liverpool Street, Sydney NSW 2000 \| Postal Address: PO Box 745, Darlinghurst NSW 1300

Telephone +61 2 8777 7574