Wyloo increases takeover offer for Noront Resources: Reuters

Wyloo Metals has raised its offer for Noront Resources shortly after failing to come to an agreement to support a rival bid by BHP Group, Reuters reported.

Wyloo Metals has raised its offer for Noront Resources shortly after failing to come to an agreement to support a rival bid by BHP Group, Reuters reported. Wyloo, Noront’s top shareholder, increased its offer to C$1.10 a share, valuing the Toronto-based nickel producer at about C$617 million ($485 million), 57 percent higher than its prior bid. Wyloo is an affiliate of Australian private investment firm Tattarang.

Source: Reuters