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Latest takeover offer for Noront Resources could mean end of ‘bidding war’ – CBC

Oct 20, 2021

Australian companies Wyloo Metals, BHP have put in offers on the Ring of Fire region this week

A bidding war for ownership of a mining company with a significant stake in northern Ontario’s Ring of Fire region may soon be over.

This week, Australian companies Wyloo Metals and BHP announced new offers to take over Canadian company Noront Resources.

Both companies have made two offers this year.

In May, Wyloo offered to pay 31.5 cents cash for each Noront share. In July, another Australian company, BHP, joined the playing field, offering 55 cents cash for each share. At the time, Noront’s board of directors recommended shareholders accept that offer.

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