Dec 13 (Reuters) - BHP Group (BHP) ended talks with billionaire Andrew Forrest's Wyloo Metals regarding its support for the takeover of Noront Resources Ltd NOT.V as the two parties were unable to reach an agreement, the mining company said on Monday.
The two companies have been in a bidding war for the Canadian nickel producer over the past year, with BHP's latest offer of C$0.75 per share surpassing Wyloo's $0.70 proposal.
BHP's all cash offer requires at least 50% of Noront shareholders to tender in support. Wyloo, Noront's largest shareholder, had said in August it would not support any bid by BHP.
The tussle between the two companies underscores the race to secure control of Noront's Eagle's Nest nickel asset in Canada's so-called Ring of Fire, a high-grade deposit of the electric-vehicle battery metal, as well as copper and palladium.
BHP said its bid continues to have the support and recommendation of the board of directors of Noront and that shareholders have until January 14, 2022 to accept.
($1 = 1.2726 Canadian dollars)
Dec 13 (Reuters) - BHP Group (BHP) ended talks with billionaire...
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