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BHP Offers To Buy Noront Resources For Total Equity Value Of C$325 Mln

BHP Lonsdale Investments Pty Ltd, a wholly owned subsidiary of BHP, has offered to buy Noront Resources Ltd. (NOT.V) for C$0.55 per share in cash. The total equity value of the transaction is C$325 million.

The offer price represents a 69% premium to Noront's closing price on July 26, 2021, the last trading day prior to announcing the transaction.

BHP Lonsdale owns 3.7% of the Noront shares on a fully diluted basis. The members of the Board of Directors of Noront who voted on the matter unanimously recommend that Noront shareholders tender their shares to accept the Offer.

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