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BHPBill extends WMC offer period
BHP Billiton has extended the offer period for its takeover bid for WMC Resources. The offer now closes at 19H30 (Melbourne time) on 3 June 2005.
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European Commission approves BHPBill's WMC bid
BHP Billiton has announced that the European Commission has issued a decision under Article 6(1)(b) of the EC Merger Regulation approving BHP Billiton`s acquisition of WMC Resources Ltd. Accordingly, the condition set out in clause 5.1(d) of the Bidder`s Statement has been fulfilled. This is the fourth condition of the offer that has been satisfied. The offer is USD7.85 for each WMC Resources Ltd share and the closing date of the offer is 19H30 (Melbourne time) on 6 May 2005.
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BHPBill: ACCC approves WMC bid
BHPBill advised on Tuesday, 19 April 05, that the Australian competition and consumer commission (ACCC) has notified BHPBill that it does not propose to intervene in BHPBill`s acquisition of WMC Resources Ltd. Accordingly, the condition set out in clause 5.1(e) of the Bidder`s Statement has been fulfilled. This is the third condition of the offer that has been satisfied. The offer is USD7.85 for each WMC Resources Ltd share and the closing date of the offer is on 6 May 2005.
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BHPBill reaches agreement with customers on price
BHPBill announced on Wednesday, 13 April 05, that it had reached agreement with a number of its steel customers on prices for contracted iron ore tonnage for the 2005 contract year. The agreed prices are as follows, Mt Newman High Grade Fines 61.72 US cents per dry metric tonne unit; an increase of 71.5 per cent. Prices for Mt Newman High Grade Lump, Pisolite (Yandi), Marra Mamba (Area C MAC) and Brockman (Yarrie) ores will also increase by the same percentage. BHPBill President Iron Ore Graeme Hunt said the price increases were a result of increasing global steel demand.
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Chinese steel makers reject BHPBill price rise
Business Day reported that China`s largest steel makers have rejected the proposal by BHPBill to increase the price of its iron ore by 105%-110% compared to the agreed industry price increase of approximately 71.5%.
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BHPBill's bid for WMC has Review Board approval
BHP Billiton advised that the Australian Treasurer has confirmed that there are no objections under the Australian Government`s foreign investment policy to BHP Billiton`s acquisition of WMC Resources Ltd. The Treasurer`s confirmation is subject to certain conditions which BHP Billiton has agreed to observe. As the conditions are acceptable to BHP Billiton, BHP Billiton will free its offer of the condition set out in clause 5.1(b) of the Bidder`s Statement. This is the second condition to have been removed.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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