https://www.theaustralian.com.au/business/trading-day/live-asx-20...

https://www.theaustralian.com.au/bu...ive-coverage/416a3e0d7da98e04bc9c4cb8dd93c505

Wyloo closes in on Mincor


BRIDGET CARTER
9:27 AM

Wyloo Metals has come a step closer to gaining full control of Mincor after IGO sold its shares in the target to the Andrew Forrest-owned suitor.

IGO held a 7 per cent stake and it takes Wyloo's holding to nearly 70 per cent in its target.
Expectations are that indexed funds will also sell into the deal, taking Wyloo a step closer to being able to delist Mincor.

Once a bidder has amassed 90 per cent of the stock in a takeover situation, the target is automatically delisted.
Wyloo launched a $752m takeover bid for the nickel miner earlier this year at $1.40 per share.

Working for Wyloo is Bank of America, while Mincor is advised by Barrenjoey and Sternship Advisers.