Canadian miner Noront Resources agreed to be acquired by Andrew Forrest’s Wyloo Metals in a deal that tops a rival offer from BHP Group.
Noront agreed to Wyloo’s “superior” offer of C70¢ (76¢) a share, which represents a 27 per cent premium to BHP’s friendly offer of C55¢ from July, the Toronto-based company said Monday in a statement. BHP has been given five business days to match the offer from the firm controlled by Forrest, an Australian mining magnate.
