updated AFR article says debt + cash: IGO’s expected to fund the...

updated AFR article says debt + cash:

IGO’s expected to fund the bid with some new debt and existing cash reserves.
The bid would value Western Areas at more than $1.1 billion. Western Areas is expected to tell shareholders to accept the offer.
Both companies’ shares went into a trading halt on Thursday morning.
Rothschild & Co and Goldman Sachs are advising Western Areas, while Macquarie Capital is in IGO’s camp.
For IGO, acquiring Western Areas would re-stock its nickel pipeline at a time when its Nova nickel mine has only an estimated five years left of production.
Western Areas, as it told shareholders when it released 10-year production guidance in late July, reckons it will be producing north of 15 thousand tonnes of nickel a year for the next decade, with production exceeding 20 thousand tonnes from the 2028 financial year.