Andrew Forest backed Wyloo has now confirmed their support for IGO’s takeover of WSA. It had been thought they may launch a competing bid hence the premium WSA has been trading at ($3.48 v $3.36 bid price). The deal should complete making a bigger, better nickel company on the ASX with heaps of optionality and a lithium kicker to boot. In the absence of any other bid which now seems unlikely, WSA looks maybe 20c rich i.e. the share price should be trading at the $3.36/share offer less the time value of money/holding cost = loosely this translates to a number around $3.30/share.
MM is neutral WSA & IGO while this deal completes
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