Sandon turns its attention to SFH, page-7

Hopefully the chairman will have the sense to ignore Sandon's opportunistic move.  SFH doesn't have a high level of debt and an equity raising won't solve the fundamental problem which is poor profitability.

I recall Sandon agitating for change at Bluescope a couple of years ago, suggesting that they close Port Kembla and sell their US assets.  Both of those moves would have destroyed shareholder equity, yet they somehow still try to claim credit for Bluescope's subsequent turnaround.  I bet the analyst that worked on the Bluescope pitch is the same one pushing the equity raising for SFH.

Here's are link for anyone that wants to read more.

disallowed/business/activist-invest...s-port-kembla-steelworks-20150614-ghnh9j.html