Brief: Azure Minerals Enters Joint Bid TID With SQM And Hancock

Azure Minerals

18/12/2023 22:50

Dec 19 (Reuters) - Azure Minerals Ltd  AZS.AX :
    * AZURE ENTERS JOINT BID TID WITH SQM AND HANCOCK
    * ENTERED INTO A NEW BINDING TRANSACTION IMPLEMENTATION DEED
WITH
SOCIEDAD QUÍMICA Y MINERA DE CHILE
    * SCHEME IMPLIES A FULLY-DILUTED EQUITY VALUE FOR AZURE OF
A$1.70
BILLION
    * JOINT BIDDERS WILL ACQUIRE 100% OF SHARES IN AZURE BY WAY
OF A
SCHEME OF ARRANGEMENT FOR A CASH AMOUNT OF A$3.70 PER AZURE
SHARE
    * AZURE BOARD UNANIMOUSLY RECOMMENDS TRANSACTION IN ABSENCE
OF A
SUPERIOR PROPOSAL
    * TRANSACTION IS SUBJECT TO LIMITED CONDITIONS, INCLUDING
BIDCO
OBTAINING FIRB APPROVAL, AMONG OTHERS
    * MEETING OF AZURE SHAREHOLDERS TO APPROVE TRANSACTION IS
EXPECTED
TO BE HELD IN MID MARCH 2024
    * TRANSACTION NOT SUBJECT TO ANY FINANCING OR DUE DILIGENCE
CONDITIONS & TAKEOVER OFFER NOT SUBJECT TO MINIMUM ACCEPTANCE
CONDITION

Source text for Eikon:  ID:nASX15nDx3 
Further company coverage:  AZS.AX