Dec 16 (Reuters) - IGO Ltd (IGO) : IGO TO ACQUIRE WESTERN AREAS...

Dec 16 (Reuters) - IGO Ltd (IGO) :

• IGO TO ACQUIRE WESTERN AREAS VIA BOARD RECOMMENDED SCHEME
• CONSIDERATION OF A$3.36 PER WSA SHARE, TO BE PAID 100% IN CASH
• TRANSACTION IMPLIES A VALUE OF A$1,096 MILLION FOR WSA ON A FULLY DILUTED BASIS
• WSA'S BOARD OF DIRECTORS UNANIMOUSLY RECOMMEND THAT WSA SHAREHOLDERS VOTE IN FAVOUR OF SCHEME
• TRANSACTION WILL BE FUNDED FROM IGO'S EXISTING CASH RESERVES AND A NEW A$900 MILLION SENIOR-SECURED DEBT FACILITY
• TRANSACTION EXPECTED TO BE FREE CASH FLOW ACCRETIVE TO IGO BY FY24
• PERPETUAL CONFIRMS IT INTENDS TO VOTE FOR ALL OF SHARES IN WSA THAT IT HOLDS IN FAVOUR OF SCHEME IN ABSENCE OF A SUPERIOR PROPOSAL