IGO switches to all-cash to win Western Areas
Perth-based nickel/copper miner IGO Ltd has agreed an all-cash takeover offer for rival Western Areas.
It is understood the bid values Western Areas at more than $3.30 a share.
The deal is expected to be announced on Thursday.
While IGO and Western Areas have been in talks for months, the twist is the all-cash nature of the bid.
IGO initially approached Western Areas with a scrip-based proposal, however returned with a cash bid to take out all of the company’s shareholders.
Edit: Homebrand, you win the fingers on the buzzer prize
IGO switches to all-cash to win Western Areas Perth-based...
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