Australian mining firm OZ Minerals’ board has confirmed it intends to recommend global miner BHP’s revised takeover offer to its shareholders, Kallanish notes.
BHP has submitted a revised non-binding indicative proposal to the board of OZ Minerals to acquire 100% of the company by way of a scheme of arrangement for a cash price of AUD 28.25 ($6.18) per OZ Minerals share. This translates into an enterprise value of AUD 9.6 billion for OZ Minerals.
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