BHP, Wyloo Metals End Talks; Noront Advises Shareholders To Tender To BHP Lonsdale's Offer

BHP Lonsdale, a unit of BHP (BHP.AX,BLT.L,BBL,BHP), said BHP and Wyloo Metals have determined that they are unable to reach an agreement on a mutually beneficial arrangement for the acquisition of Noront by BHP Lonsdale. BHP Lonsdale and Noront encouraged Noront shareholders to tender to BHP Lonsdale's all-cash offer of C$0.75 per Noront share.

BHP noted that its offer continues to have the support and recommendation of the Board of Directors of Noront. The offer has a minimum tender requirement of more than 50% of the outstanding Noront shares not beneficially owned or controlled by BHP Lonsdale.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Asweets Global Inc. is recalling about 2,000 units of Wonder & Wise Activity Tables for potential risk of choking hazard to young children, a statement by the U.S. Consumer Product Safety Commission (CPSC) showed. The company said the screws of the tables can become loose and/or detach from the xylophone component of the activity tables to pose a choking hazard to young children. Chinese e-commerce giant Alibaba Group Holdings Ltd. (BABA) reported Thursday a net loss for the fourth quarter that sharply widened from last year, despite 9 percent growth in revenues, hurt by a decreases in the market prices of our equity investments in publicly-traded companies. Omni-channel fashion retailer Macy's, Inc. (M) reported Thursday a first-quarter net income of $286 million or $0.98 per share, sharply higher than $103 million or $0.32 per share in the prior-year quarter. Excluding items, adjusted net income for the quarter was $315 million or $1.08 per share, compared...
Follow RTT