July 2023
IGO slashes value of new nickel mines by 75pc
Up to $980 million has been written off the value of the Cosmos and Forrestania operations following the critical minerals producer’s deal with Western Areas.
- Updated
- Elouise Fowler
March 2023
- Analysis
- Mergers & acquisitions
Twiggy is moving fast where BHP is moving slow
Andrew Forrest’s private company Wyloo is buying many of the things that BHP wants and needs. Australia’s biggest company risks being held to ransom.
- Peter Ker
September 2022
Forrest dives into another mining merger hotspot
Billionaire Andrew Forrest complicated BHP and IGO’s attempts to acquire nickel miners, and now Andrew Forrest has put himself between Newcrest and its most logical takeover target
- Updated
- Peter Ker and Brad Thompson
June 2022
IGO snares Western Areas amid brutal lithium rout
IGO has finally snared Western Areas after shareholders backed the $1.3 billion deal, as the miner was swept up in a nasty sell-off of lithium stocks.
- Michael Bennet
May 2022
IGO’s ‘unfair but reasonable’ nickel bid approved by proxies
IGO’s $1.26 billion offer for nickel miner Western Areas might be frugal, but one proxy advisor has told clients they should accept it at a meeting on June 1.
- Peter Ker
Chalice asks opponents to see the forest for the trees
An Australian critical minerals discovery is at the centre of debate over whether pursuit of metals for decarbonisation can justify local environmental damage.
- Peter Ker
Lithium teething problems can’t sate IGO’s nickel processing hunger
As politicians promise to add more value to Australian critical minerals, IGO is ironing out problems at its new lithium plant and plotting battery grade nickel
- Peter Ker
April 2022
IGO’s new Western Areas bid still lower than KPMG’s range
Western Areas shareholders have spent the past few weeks in suspense of what KPMG reckons the company’s worth. And they are finally about to find out.
- Anthony Macdonald, Sarah Thompson and Kanika Sood
IGO’s bid for WSA now looking good: Shaw
Shaw and Partners analysts reckon IGO’s bumped up $3.87 a share offer is one that Western Areas shareholders should accept.w
Nickel price surge forces IGO to re-up its takeover offer
The company has agreed to pay 15 per cent more for nickel miner Western Areas amid extraordinary turbulence in nickel markets.
- Updated
Western Areas, IGO talks head into overtime, shares unlikely to trade
The two were still struggling to agree to a price after the independent expert knocked back IGO’s $1.09 billion bid on Tuesday, labelling it “neither fair nor reasonable” on price.
- Anthony Macdonald, Sarah Thompson and Kanika Sood
Nickel merger in turmoil as expert says $1b price not fair
A $1.09 billion merger of Western Areas and IGO Group is on the rocks after last month’s nickel price volatility prompted an expert to rule the price unfair.
- Updated
- Peter Ker
March 2022
Western Areas shareholder says IGO should up bid or fold Wyloo joint venture
Hedge fund Odey Asset Management is calling for IGO and Wyloo Metals to dissolve their downstream nickel joint venture, saying it implies a 67 per cent higher offer price for Wyloo Metals in IGO’s bid for Western Areas relative to other shareholders.
- Anthony Macdonald, Sarah Thompson and Kanika Sood
Western Areas investors watching IGO’s Wyloo tie-up
As IGO’s $1.07 billion bid for Western Areas seeks the court’s blessings, the target’s shareholders are watching for detail on IGO’s tie-up with Wyloo Metals.
- Anthony Macdonald, Sarah Thompson and Kanika Sood
Nickel’s tumble hurts hopes of Western Areas bump
Western Areas shareholders hoping for IGO to up its bid are watching the chance slip away as nickel prices continue their descent.
- Anthony Macdonald, Sarah Thompson and Kanika Sood
Nickel price spike delays IGO’s buyout of Western Areas
Perth-based nickel and copper miner IGO’s $1.09 billion buyout of Western Areas faces a delay after the London Metals Exchange halted nickel trading.
- Elouise Fowler
February 2022
Forrest backs IGO takeover of nickel miner Western Areas
Forrest backs IGO takeover of nickel miner Western Areas
- Peter Ker
Mincor Resources tried and missed Western Areas
ASX-listed nickel explorer Mincor Resources made a push for Western Areas but backed out.
- Anthony Macdonald, Sarah Thompson and Kanika Sood
January 2022
IGO resists pressure to boost Western Areas bid
Acquisitive miner IGO says it has lodged its best offer for Western Areas and it won’t be pressured into a higher bid by Andrew Forrest nor high nickel prices
- Peter Ker
Forrest fuels another nickel bidding war
Fresh from a nickel bidding war with BHP in Canada, Andrew Forrest looks set to push IGO Group to pay more for nickel miner Western Areas.
- Peter Ker