Media Release: Clayton Utz advising Wyloo Consolidated on $760 million takeover offer for Mincor Resources

21 Mar 2023
Time to read: 1 minutes

Clayton Utz is advising Wyloo Consolidated (Wyloo), a member of the Wyloo Group, on its $760 million on-market takeover offer for all of the shares in Mincor Resources NL (ASX: MCR) that are not already owned by the Wyloo Group. The takeover offer was announced to the market today.

Corporate partners Mark Paganin and Stephen Neale are leading our team working alongside the Wyloo team, with key support from senior associate William Davies, and lawyers Tashreen Tourabaly, Victoria Bandurski and Matthew Ledger. Other core team members include partners Peter Feros and Keshni Maharaj and senior associates Amy Liu and David Wong (Tax), and partner Kate Casellas (Banking & Financial Services).

Mincor is an ASX-listed Australian company involved in the exploration for and mining of mineral resources. Mincor has two major projects, being the Kambalda Nickel Operations, which comprise the brownfields Northern Operations and the greenfields Cassini Nickel Mine, and the Widgiemooltha Gold Project, a gold exploration opportunity. The Wyloo Group is Mincor's largest shareholder with an interest of 19.9% of Mincor shares.

The Offer price of $1.40 cash per share implies an equity value for Mincor of approximately A$760 million and represents a 35% premium to the closing price of Mincor shares on 20 March 2023, the last trading day prior to this announcement.

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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.