logo
  

BHP Increases Offer For Noront Resources To C$0.75/shr

BHP Lonsdale Investments Pty Ltd, a wholly owned subsidiary of BHP, has increased its all-cash offer for Noront Resources Ltd. (NOT.V) to C$0.75 per share, representing a 36% premium to its previous offer, a 7% premium to Wyloo Metals Pty offer.

The Noront Board, considering the superior C$0.75 per share cash purchase price in the amended Offer, has determined that the proposal from Wyloo Metals Pty Ltd., at a price of C$0.70 per share, has ceased to be a "superior proposal", and recommends the Noront shareholders tender their shares to the BHP offer.

In order for Noront shareholders to receive the C$0.75 all-cash offer price for their shares, at least 50% of shares not owned by BHP must be tendered.

The BHP offer will be open until on November 9, 2021. Shareholders have 22 days to decide to accept the full and immediate value offered by BHP.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Privately-held biotechnology company On Target Laboratories, Inc. announce that the U.S. Food and Drug Administration or FDA, has approved Cytalux (pafolacianine) for adult patients with ovarian cancer as an adjunct for intraoperative identification of malignant lesions. Cytalux is the first targeted fluorescent imaging agent that illuminates ovarian cancer intraoperatively. The Federal Trade Commission or FTC has ordered Walmart, Amazon, Kroger and certain other large wholesalers and suppliers to provide information to help it study causes of supply chain disruptions. The agency has launched an inquiry to find the reasons for empty shelves and exorbitant prices. Along with Walmart, Amazon.com, and Kroger, the order has been sent to C&S Wholesale Grocers, Associated.. Covid vaccine maker Moderna Inc.'s Chief Executive Stéphane Bancel has predicted that existing COVID-19 vaccines will be much less effective against Omicron than earlier strains, according to the Financial Times.
Follow RTT