bullish
Gina Can't "Liontown" SQM's Bid For Azure
495 Views26 Oct 2023 16:12
SUMMARY
- When lithium mining play Azure Minerals (AZS AU) was halted this week "regarding a potential change of control transaction", Sociedad Quimica y Minera (SQM/B CI) was the obvious suitor.
- This was confirmed this morning with a A$3.52/share Offer, a 44.3% premium to undisturbed, by way of a Scheme. A concurrent conditional off-market takeover at A$3.50/share is also present.
- $3.50 is locked in, no matter what. Gina may take her stake up to 19.9%, but it won't affect the A$3.50 floor. But it may kickstart a competitive bidding situation.
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- Azure Min (AZS AU): Trading Wide Ahead Of 8th April Vote07 Mar 2024
- Azure (AZS AU): MinRes' Discounted Exit21 Feb 2024
- Gina Joins SQM In Bid For Azure (AZS AU)19 Dec 2023
- Azure (AZS AU): SQM The Likely Suitor25 Oct 2023
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