10th Nov 2021 12:14
(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 is ongoing, to the point that 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 the end of November, and both BHP and Wyloo are still considering a mutually beneficial arrangement regarding 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 for CAD0.315 per share.
Shares in BHP were up 0.1% at 1,896.60 pence on Wednesday in London, while its Johannesburg shares were 0.2% higher at ZAR387.34.
By Dayo Laniyan; [email protected]
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