By teaming with Rinehart, SQM has overcome a major hurdle to its takeover going ahead. — Reuters
MELBOURNE: Chile’s SQM teams up with Australia’s richest person, Gina Rinehart, to make a sweetened A$1.7bil (US$1.14bil) bid for Australian lithium developer Azure Minerals, the three parties say.
The A$3.70 per share offer from SQM and Rinehart’s Hancock Prospecting, already the target’s two largest shareholders, is up 5.1% from SQM’s prior solo offer of A$3.52 a share.
