The exclusivity period between BHP and OZ Minerals has been extended a further week, until Tuesday 27 December 2022, in accordance with the terms of the Confidentiality and Exclusivity Deed originally announced on 18 November 2022.
The original announcement confirmed that BHP had entered into a Confidentiality and Exclusivity Deed with OZ Minerals Limited (OZL) in relation to BHP’s revised non-binding indicative proposal to acquire 100 per cent of OZL by way of a scheme of arrangement for a cash price of AU$28.25 per OZL share.
Under the Confidentiality and Exclusivity Deed, OZL granted BHP four weeks to undertake exclusive due diligence and negotiate a binding scheme implementation deed (SID).
The extension follows confirmation by BHP to OZL of completion of due diligence and the proposed cash price of AU$28.25 per OZL share. The extension allows for finalisation and agreement of the binding SID.
The terms of any SID are subject to OZ Minerals Board approval and BHP Board approval.
There is no guarantee that any transaction will eventuate or proceed at this stage.
