24th Nov 2021 13:05
(Alliance News) - BHP Group PLC on Wednesday said that discussions with Australian miner Wyloo Metals Pty Ltd on its potential support for BHP's takeover of Canadian miner Noront Resources Ltd continue, so BHP's offer deadline has been extended.
The London and Johannesburg-listed miner has extended the deadline for its CAD0.75 per share offer to December 14 from the end of November.
Bidding rivals BHP and Wyloo are still considering an arrangement for the acquisition of Noront.
BHP in October upped the ante in its bidding war with Wyloo, increasing its offer for Noront to CAD0.75 per share, from its original tilt of CAD0.55, and besting Wyloo's updated CAD0.70 bid made at the end of August. Wyloo first made an offer for Noront in May of CAD0.315 per share.
Noront shares closed down 1.3% in Toronto on Tuesday at CAD0.75.
BHP shares were up 1.4% to ZAR428.76 each in Johannesburg on Wednesday, and were up 1.4% to 2,028.50 pence each in London.
By Greg Roxburgh; [email protected]
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