RE:RE:RE:RE:RE:RE:i still dont understand something It took Noront 1 single day to agree BHP's bid was superior to Wyloo bid but now it is 5 days and zero news ???
something isn't right and this smells !!!
both companies have break up fees on top of bids
BHP 13 million
wyloo 17 million
https://norontresources.com/bhp-increases-all-cash-offer-for-noront-to-c0-75-per-share/
The terms of the Arrangement Agreement, if executed, will provide that Wyloo Metals will be entitled to a termination payment of C$17 million (equal to approximately 4% of the total equity value of the transaction based on 100% of Noront’s fully diluted shares outstanding) if the Arrangement Agreement is terminated in certain circumstances. This termination payment will not be payable if BHP elects to match the Wyloo Offer and Noront and Wyloo Metals therefore do not enter into the Arrangement Agreement.