Ramelius Resources has initiated a merger proposal with Westgold Resources and has approached the Australian Government Takeovers Panel regarding the potential deal. Although no decision has been made to proceed, discussions started a few months ago when Ramelius CEO Mark Zeptner first reached out to Westgold, which was subsequently declined as Westgold is engaged in merger talks with Karora Resources. On 14 November 2023, Ramelius and Westgold signed a mutual confidentiality deed that included a standstill agreement lasting until 14 November 2024. Additionally, Westgold and Karora Resources entered into an arrangement on 8 April 2024, planning for Westgold’s acquisition of 100% of Karora via a Canadian arrangement. Westgold’s CEO, Wayne Bramwell, highlighted the strategic benefits of this merger in creating a new mining powerhouse in Australia. This prospective merger is part of a series of significant M&A activities in the mining sector, exemplified by BHP’s recent $74 billion takeover attempts for Anglo American.
Mining, Mergers and Acquisitions,Australia, Canada
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