Forrest backs IGO takeover of nickel miner Western Areas
Peter KerResources reporter
Billionaire Andrew Forrest has thrown his support behind IGO Group’s bid to acquire nickel miner Western Areas and dealt himself into IGO’s dream of building a nickel processing plant in Australia.
Mr Forrest pledged the 9.8 per cent stake his private company Wyloo holds in Western Areas to support the IGO merger on Thursday, barely three weeks after he was buying Western Areas shares at prices above the IGO offer price.
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Peter Ker covers resource companies for The Australian Financial Review, based in Melbourne. Connect with Peter on Twitter. Email Peter at pker@afr.com
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