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."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...