Western Areas (WSA) $3.80

WSA +5.48%: nearly 4 months on from the initial agreed takeover price, Western Areas has managed to secure a new deal with Independence Group (IGO) 15% higher. The nickel price has rallied around 70% since the deal was struck, and an independent expert report deemed that the market fundamentals had changed forcing Independence Group’s hand to submit a new bid at $3.87/share in cash, more in line with the expert report. WSA’s largest shareholder, Andrew Forest’s Wyloo, has agreed to vote in favour of the revised terms, and so will the company’s board when the vote comes with the deal expected to be wrapped up in June.

chart

Western Areas (WSA)

LAST UPDATED 11/04/2022 16:54

Close

chart

Western Areas (WSA)

LAST UPDATED 11/04/2022 16:54