News: BHP Oz Minerals Ltd Says Revised Proposal For A$28.25 Per Share

Nov 18 (Reuters) - OZ MINERALS (OZL) :

• DEAL FOR A$28.25 PER SHARE
• OZ MINERALS RECEIVES REVISED PROPOSAL AT A$28.25
• DEAL FOR AN ENTERPRISE VALUE FOR OZ MINERALS OF A$9.6 BILLION
• REVISED PROPOSAL FOLLOWS PERIOD OF ENGAGEMENT WITH BHP AFTER BHP'S UNSOLICITED, CONDITIONAL, NON-BINDING AND INDICATIVE PROPOSAL ON 5 AUG
• A UNANIMOUS RECOMMENDATION FROM OZ MINERALS BOARD OF DIRECTORS THAT SHAREHOLDERS VOTE IN FAVOUR OF TRANSACTION
• REVISED PROPOSAL ALSO ALLOWS OZ MINERALS TO CONSIDER PAYING A FRANKED DIVIDEND TO SHAREHOLDERS PRIOR TO TRANSACTION BEING IMPLEMENTED
• BHP HAS INDICATED THAT THIS OFFER PRICE REPRESENTS BEST AND FINAL PRICE IT IS WILLING TO OFFER
• NOTES THAT THERE IS NO CERTAINTY AT THIS STAGE THAT REVISED PROPOSAL AND ENGAGEMENT BETWEEN OZ MINERALS AND BHP
• LOOK FORWARD TO WORKING WITH BHP IN COLLABORATIVE WAY TO PROGRESS REVISED PROPOSAL IN BEST INTERESTS OF OZ MINERALS' AND STAKEHOLDERS
• REVISED PROPOSAL SUBJECT TO A NUMBER OF CONDITIONS BHP COMPLETING SATISFACTORY DUE DILIGENCE, AMONG OTHERS
• OZ MINERALS LTD - BOARD OF OZ MINERALS HAS AGREED TO GRANT BHP OPPORTUNITY TO CONDUCT DUE DILIGENCE FOR FOUR WEEKS ON AN EXCLUSIVE BASIS
• DUE DILIGENCE FOR 4 WEEK PERIOD IS EXPECTED TO COMMENCE ON OR AROUND MONDAY 21 NOVEMBER
• AT THIS STAGE, SHAREHOLDERS DO NOT NEED TO TAKE ANY ACTION

(([email protected];))