In today’s briefing:
- Northern Star’s A$5bn Tilt for De Grey (DEG AU)
- Northern Star (NST AU) To Acquire De Grey Mining (DEG AU): Offer Details & Index Flow
- Higher NR Prices Erode Profits Of Indian Tire Majors In Q2 FY25
Northern Star’s A$5bn Tilt for De Grey (DEG AU)
- De Grey Mining (DEG AU), which boasts one of Australia’s largest undeveloped gold projects, has announced a merger, by way of Scheme, with Northern Star Resources (NST AU).
- Northern Star is offering 0.119 new shares for every De Grey share, and will hold ~80.1% of the combined entity, with De Grey shareholders the remaining ~19.9%.
- Terms back out an implied price of A$2.08/share, or a ~37% premium to last close. This Offer has the unanimous backing of both boards.
Northern Star (NST AU) To Acquire De Grey Mining (DEG AU): Offer Details & Index Flow
- Northern Star Resources (NST AU) has agreed to acquire De Grey Mining (DEG AU) by way of a Scheme of Arrangement in an all-stock deal.
- De Grey Mining (DEG AU) shareholders will receive 0.119 Northern Star Resources (NST AU) shares for each De Grey share held. That implies a 37.1% premium to the last close.
- There will be passive buying in Northern Star Resources (NST AU) at the time of merger completion, though there could be selling from some existing De Grey Mining (DEG) shareholders.
Higher NR Prices Erode Profits Of Indian Tire Majors In Q2 FY25
- Q2 FY 2025 sees NR prices hitting all-time high of INR 247/kg
- Revenue of MRF, Apollo and CEAT goes up YoY; of JK Tyre dips
- Tire prices hiked to mitigate impact of NR price rises
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