News: BHP Oz Minerals Rejects Indicative Proposal From BHP

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    Aug 8 (Reuters) - BHP Group Ltd (BHP) :

    • REJECTS INDICATIVE PROPOSAL FROM BHP
    • RECEIVED INDICATIVE PROPOSAL FROM BHP TO ACQUIRE ALL SHARES IN OZ MINERALS FOR A$25.00 PER SHARE IN CASH VIA SCHEME OF ARRANGEMENT
    • BOARD CONSIDERED THAT INDICATIVE PROPOSAL DOES NOT ADEQUATELY COMPENSATE SHAREHOLDERS
    • ALSO ADVISED BY BHP IT HAS ACCUMULATED AN INTEREST IN OZ MINERALS SHARES VIA DERIVATIVE INSTRUMENTS TO AN INTEREST OF LESS THAN 5%
    • BOARD ALSO CONSIDERED THAT INDICATIVE PROPOSAL IS HIGHLY OPPORTUNISTIC
    • BOARD CONSIDERED THAT PROPOSAL COME AT TIME WHEN LME COPPER PRICE AND OZ MINERALS SHARE PRICE HAVE FALLEN FROM THEIR RECENT PEAKS
 
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Last
$39.64
Change
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