A few years back BSL did some DD on Arrium when a potential...

A few years back BSL did some DD on Arrium when a potential merger was in the wings, assume once they looked at how Roberts and Co managed the Whyalla operation and the SI contract debacle they would have realized they were dealing with a bunch of incompetent, corporate lunatics so took off and just waited.

BSL will not want to see Whyalla steel works end up in the hands of an OS competitor, BSL will also know where the money can be saved and how to make it profitable. They'll be waiting for Government announcements re assistance and may then make a play for Whyalla steel, it will fit in well with their plate business and would result in BSL supplying 100% of the steel for the subs and other defense vessels which will suit the Government. There also won't be any fat at the top end of Whyalla steel if run by BSL, any executives BSL don't require will be Arrium's problem as part of any purchase.

All the major job cuts have been made at Arrium's cost the last 12 months, BSL purchase it and will continue to drive costs out of the operation at a rapid rate as they have done in Port Kembla. I can't see them wanting the risk with the IO mines, leave that to a buyer who knows how to run mines cost effectively.

http://www.smh.com.au/business/bluescope-raises-forecast-with-more-to-come-20160523-gp1lqi.html