Australia's Loyal Metals rises to 6-month high on takeover bid from Indonesia's Bumi Resources

Loyal Metals

27/04/2026 02:06

** Shares of Loyal Metals LLM.AX rise as much as 29.2% to A$0.41 in early trade, their highest since October 29, 2025

** Stock logs its largest intraday pct gain since early July 2025

** The critical minerals firm says it will be acquired by Indonesia's PT Bumi Resources BUMI.JK under an Australian scheme of arrangement

** Cash consideration of A$0.45 per Loyal Metals share represents a 38.5% premium to stock's last close, values co at around A$79.1 million ($56.58 million)

** Says Loyal Metals shareholders to benefit from certainty of a board-recommended all-cash transaction

** Nearly 4.7 million shares change hands, 15.3 times the 30-day average

** Stock up 27.7% YTD, including the day's moves

($1 = 1.3980 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))