Northern Star Resources’ $6 billion buyout of its smaller rival De Grey Mining is all but over the line after the takeover target’s largest shareholder agreed to support the acquisition.
Gold Road Resources, which owns 17.3 per cent of West Australian gold producer De Grey, a stake now worth more than $1 billion, and its backing effectively seals the deal for Northern Star to buy the company and its flagship Hemi operations in the Pilbara.
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Mark Wembridge covers resource companies for The Australian Financial Review, based in Perth. He formerly worked for the Financial Times in London and Hong Kong. Connect with Mark on Twitter. Email Mark at mark.wembridge@nine.com.au
