BHP, Wyloo Metals End Talks; Noront Advises Shareholders To Tender To BHP Lonsdale's Offer

(RTTNews) - BHP Lonsdale, a unit of BHP (BHP.AX, BLT.L, BBL, BHP), said BHP and Wyloo Metals have determined that they are unable to reach an agreement on a mutually beneficial arrangement for the acquisition of Noront by BHP Lonsdale. BHP Lonsdale and Noront encouraged Noront shareholders to tender to BHP Lonsdale's all-cash offer of C$0.75 per Noront share.

BHP noted that its offer continues to have the support and recommendation of the Board of Directors of Noront. The offer has a minimum tender requirement of more than 50% of the outstanding Noront shares not beneficially owned or controlled by BHP Lonsdale.