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BHP in talks with Wyloo over Noront offer

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3rd November 2021

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Diversified miner BHP this week said that it was in discussions with Andrew Forrest’s Wyloo Metals regarding its potential support for BHP’s takeover offer for TSX-V listed Noront Resources.

BHP in October trumped Wyloo’s C$0.70-a-share cash offer for Noront, by offering C$0.75 a share for the Canadian nickel developer.

The Noront board is supporting the offer from BHP.

BHP said this week that to allow more time for discussions with Wyloo to progress, the company had extended the expiry of its takeover offer from November 9 to November 16.

“BHP and Wyloo Metals have engaged in initial conversations and are considering a mutually beneficial arrangement regarding the acquisition of Noront by BHP. There is no assurance that any agreement will be reached between BHP and Wyloo Metals,” BHP said in a statement.

Wyloo holds a 37.2% interest in Noront.

Edited by Creamer Media Reporter

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