Oz Minerals shares halted pending potential control change
Oz Minerals has requested a trading halt pending an announcement in relation to a potential change-of-control transaction, three months after the copper miner rejected a A$8.4-billion ($5.7-billion) bid by BHP Group.
The securities will remain in the trading halt until the commencement of normal trading on Friday, or when the announcement is released to the market, Oz Minerals said in a statement to the Australian Securities Exchange on Wednesday.
BHP was the likely bidder, but it’s also possible it could be a new entrant because the mining giant hadn’t entered a trading halt, Shaw and Partners analyst Peter O’Connor said in a note. The bidder would need to offer “A$30 a share or close to it,” he said.
BHP’s initial offer for Oz Minerals was for A$25 a share. The company’s shares closed at A$26.30 in Sydney on Tuesday.
A spokesperson from BHP declined to comment.
BHP, which hived off its oil and gas assets this year, is seeking growth in commodities tied to trends including low-emissions transport and clean energy -- particularly copper for renewables and nickel for lithium-ion batteries. The mining giant is also pouring billions of dollars into a giant new potash mine in Canada to enter the fertilizer sector.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation