BHP (ASX:BHP) makes takeover offer for Noront Resources

Company News

by Lauren Evans

BHP (ASX:BHP) subsidary BHP Lonsdale Investments has announced that its subsidiary BHP Western Mining Resources International (BHP WMR) has made a recommended all-cash offer to acquire all issued and outstanding common shares of Noront Resources for $0.55 per share.

BHP Lonsdale, BHP WMR and Noront have entered into a definitive support agreement, whereby Noront has agreed to support the takeover bid by BHP WMR.

Noront is a Canadian-based mining company focused on the development of its Eagle’s Nest nickel, copper, platinum and palladium deposit and chromite deposits.

Shares in BHP (ASX:BHP) are trading 2 per cent lower at $52.32. 

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