M&A

OZ to recommend revised BHP offer

BHP has submitted a revised non-binding indicative proposal to the board of OZ Minerals to acquire the company via a scheme of arrangement for A$28.25 cash per share, valuing OZ at $9.6 billion.

OZ chair Rebecca McGrath

OZ chair Rebecca McGrath

BHP offered $25 per share in August, which was rejected by OZ. The revised proposal follows talks between the two companies. The increased price represents a 49.3% premium to OZ's undisturbed closing...

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