Deterra’s big-ticket bet on lithium royalties faces tough reception
After years of being criticised for high costs and inaction, Iluka-backed Deterra Royalties has bid for Trident Royalties and is facing a backlash, again.
For all the debate raging about Deterra Royalties’ long-awaited first deal, there’s at least one certainty: shareholders in Trident Royalties, the UK-listed takeover target, aren’t the ones complaining.
Trident has a clutch of Australian backers, including Phil King’s Regal Funds Management, Perth’s Jon Fogarty and Rob Hamilton’s Ashanti Capital which are all among the 29 per cent of the register that have pre-accepted the £144 million ($273 million) Deterra bid.
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Jemima Whyte writes on business, specialising in companies, capital markets and innovation. Jemima has reported on business for The Australian Financial Review for more than 13 years. Email Jemima at jemima.whyte@afr.com
