SBM -0.75%: more news flow regarding the sale of their WA assets with Silver Lake (SLR) looking to disrupt a deal with Genesis (GMD). Silver Lake came back with an improved offer worth $707m by increasing the scrip part of the deal after St Barbara rejected their earlier $668m offer. The assets are promised to Genesis in a deal worth ~$600m, while Silver Lake moved to allay St Barbara’s liquidity concerns, looking to complete the deal with just 2 weeks of due diligence. While a bidding war would ultimately improve the price, St Barbara is in need of the cash injection that would come from the sale, while shares in both courters fell today which reduced the value of the scrip components that make up the bulk of each offer, weighing on SBM shares.
MM is neutral SBM
Add To Hit List
