BHP makes recommended all-cash offer of C$0.55 per share for Noront
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.
- 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.
- In addition, the C$0.55 per share Offer price is C$0.235 per share, or 75%, higher than the C$0.315 per share proposed by Wyloo in its announcement on May 25, 2021.
- Noront CEO, Alan Coutts: This transaction provides a significant premium to Wyloo's indicative offer, and crystallizes immediate and certain value through an all-cash offer.
- BHP Chief Development Officer, Johan van Jaarsveld: We are pleased that the Noront board has seen the value in our offer and has recommended it to its shareholders.