BHP raises Forrest in Canadian nickel battle
BHP has raised its offer for Canadian nickel explorer Noront Resources by $128 million as it tries to wrest control of the company off billionaire Andrew Forrest.
BHP told Noront investors on Wednesday it was willing to pay C75¢ for each share in the company, under a proposal that values Noront at about $C443 million ($479 million).
BHP ups its bid for Noront.
The improved offer by BHP comes barely 24 hours after Mr Forrest’s company secured the support of the Noront board for its C70¢ per share offer.
The Noront board has now swung its support behind BHP.
Noront has acreage near James Bay in eastern Canada which is expected to be prospective for many metals, particularly nickel.
BHP raises Forrest in Canadian nickel battlePeter KerOct 20,...
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