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  2. Share Prices
  3. BHP Group Share Price
  4. BHP Group Share News
  5. BHP receives USD14 million from Noront to switch support to Wyloo bid

Pin to quick picksBHP Group Share News (BHP)

BHP Group Information

Share Price Information for BHP Group (BHP)

London Stock Exchange
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Share Price: 2,241.00
Bid: 2,242.00
Ask: 2,243.00
Change: 9.00 (0.40%)
Spread: 1.00 (0.045%)
Open: 2,233.00
High: 2,261.00
Low: 2,211.00
Prev. Close: 2,232.00
BHP Live PriceLast checked at -

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BHP receives USD14 million from Noront to switch support to Wyloo bid

Thu, 23rd Dec 2021 07:38

(Alliance News) - BHP Group PLC on Thursday said it has received a payment from Noront Resources Ltd in compensation for the Canadian nickel miner breaking its agreement to support a BHP takeover offer.

Noront has made a CAD17.8 million, about USD13.9 million, termination payment to BHP.

BHP on Tuesday kept its offer for Noront at CAD0.75 per share, which is 47% below rival Wyloo Metals Pty Ltd's proposal of CAD1.10. Wyloo said the Noront board supports its latest bid.

In a statement on Thursday, BHP said it has ended the agreement related to Noront's support of its takeover offer that had been signed back July 26, when Noront had indicated its support for the BHP offer.

On Tuesday, BHP said it would not bump up its offer for Noront to match the one on the table from Wyloo.

By Artwell Dlamini; artwelldlamini@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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