"Melbourne-based OZ Minerals has long been sitting on a pile of cash, the legacy of a 2009 restructuring that followed the global financial crisis. But the hunt for the perfect bolt-on to its business has been taking some time, say its executives. The miner has about A$750 million set aside for M&A activity but has so far kept its powder dry.
Chief Executive Terry Burgess said OZ Minerals is “finally starting to see some traction” in its own negotiations. “But I don’t want to say we have seen massive discounts out there, because we haven’t,” he said."
OZL Price at posting:
$7.80 Sentiment: None Disclosure: Held
