Ann: Trading Halt, page-12

Here’s the news from Bridget Carter at The Australian as well  :

https://www.theaustralian.com.au/bu...n/news-story/6b0473d7e40da5a50bdf22ffe5023ca5


IGO to buy Western Areas for more than $1.1bn

IGO is believed to have reached a cash deal to buy Western Areas for more than $1.10bn. Picture: AAP Image/BHP

• BRIDGET CARTER
  DATAROOM EDITOR
  
• 31 MINUTES AGO DECEMBER 16, 2021

IGO has reached a cash deal to buy Western Areas for more than $1.1bn, according to sources.

It is understood that IGO will offer more than $3.30 a share for the business in a transaction being backed by the Western Area board.

Western Area’s major shareholder Perpetual is also said to be supportive of the offer.

Shares in IGO and Western Areas remained halted on Thursday pending the announcement.

Shares in Western Areas on Wednesday closed at $3.24.

It comes after IGO began due diligence on Western Areas in September.

Western Areas is advised by Rothschild & Co and Goldman Sachs, while IGO is working with Macquarie.

IGO’s focus on the nickel miner is at a time it plans to sharpen its focus on minerals used for environmentally friendly technology such as batteries in electric vehicles.
Nickel West owns a smelter, a sulfate plant and a refinery.

Some had earlier questioned whether BHP could be a suitor.
IGO gaining control of Nickel West would be detrimental to BHP, which locked in nickel supply agreements with electric car maker Tesla.