It’s second time unlucky for Silver Lake as it pursues St Barbara’s assets in Western Australia’s Leonora region. According to investor sources, St Barbara’s board, meeting on Sunday, was expected to knock back the revised $707 million proposal lobbed last week.
The same assets are the subject of a separate offer from Genesis Minerals, with the two companies agreeing to a deal in April – one which will allow St Barbara to focus on its struggling overseas mining interests.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
