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
