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