BHP again tops Wyloo bid for nickel prospect Noront Resources

October 21, 2021 / www.metalbulletin.com / Article Link

Australia-based global miner BHP has raised its offer in a bidding war to acquire prospective Canadian nickel producer Noront Resources.

The Toronto-based junior miner recommended to its shareholders in July that they accept BHP's offer, worth at that time C$325 million ($263 million), instead of a competing offer from another Australian miner, Wyloo Metals.
Wyloo counteroffered, and BHP raised its offer higher.

"BHP increases its all-cash offer to Noront shareholders to C$0.75 per share, representing a 36% premium to its previous offer, a 7% premium to the Wyloo offer and a 213% premium to...

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