OZL - Oz Minerals

[frugal.rock]

In about 10 minutes or so... ???

 

[divs4ever]

So, when is this going to start trading at $28.25 so I can sell it.

View attachment 150800

may as well wait and see if there is a special div. ( to use up the franking credits ) on maybe even a late counter-offer depending on who a second bidder is a scrip component would win me over ( although i still prefer to hold OZL , so far )

 

[Dona Ferentes]

Board is on board

BHP has entered into a Scheme Implementation Deed with OZ Minerals Limited (OZL) to acquire 100% of OZL by way of a scheme of arrangement for a cash price of A$28.25 per OZL share.

The SID confirms the terms of the Scheme and BHP’s non-binding indicative proposal announced on 18 November 2022. The execution of the SID follows the completion of a four-week exclusive due diligence period.

BHP’s offer price of A$28.25 per OZL share corresponds to an enterprise value of A$9.6 billion for OZL and represents a significant and attractive premium of:
- 49.3% to OZL’s closing price of A$18.92 per share on 5 August 2022, being the last trading day prior to the initial proposal by BHP; and
- 59.8% to OZL’s 30-day VWAP of A$17.67 per share up to and including 5 August 2022.

 

[peter2]

BHP's offer was an opportunistic one timed to coincide with a price dip in the copper market. Copper prices have risen 10% and IMHO the offer represents no premium for the OZL holders. OZL shareholders have been ripped off while BHP has got a bargain.

 

[divs4ever]

while BHP has got a bargain.

i seem to remember a similar claim made on potash and US shale oil ( made by BHP )

the ones almost guaranteed to get shafted are the smaller companies OZL invested in either as a shareholder or JV partner ( unless BHP passes them off to S32 )

... but another board on the ASX that barely puts up a fight (sigh )

 

[Sean K]

may as well wait and see if there is a special div. ( to use up the franking credits ) on maybe even a late counter-offer depending on who a second bidder is a scrip component would win me over ( although i still prefer to hold OZL , so far )

Maybe a special div.

 

[divs4ever]

Maybe a special div.

View attachment 150848

i suspected OZL had some franking credits up their sleeve , but cents ( not a dollar or more )

i guess time will tell

 

[Sean K]

So, OZL holders, do we just hold our shares and turn into BHP holders (don't hold) or sell now that it's close to the value of the bid. Personally, I don't think I need BHP as it must make up a large chunk of my super and I own IOZ, so why BHP?

 

[divs4ever]

So, OZL holders, do we just hold our shares and turn into BHP holders (don't hold) or sell now that it's close to the value of the bid. Personally, I don't think I need BHP as it must make up a large chunk of my super and I own IOZ, so why BHP?

unless i missed something there is no scrip component , so IF the deal goes through the question is cash now , or cash later

now sure there is the talk of a fat div. ( probably franked @100% , but not everyone can use the franking credits ) , but that div. will come out of the cash offer

it is more a case if you sell early is there a good place to park the cash

( i hold OZL 'free-carried' ) very annoying after the effort and sleepless nights to get into a very comfortable position over the last 12 years

 

[Sean K]

unless i missed something there is no scrip component , so IF the deal goes through the question is cash now , or cash later

now sure there is the talk of a fat div. ( probably franked @100% , but not everyone can use the franking credits ) , but that div. will come out of the cash offer

it is more a case if you sell early is there a good place to park the cash

( i hold OZL 'free-carried' ) very annoying after the effort and sleepless nights to get into a very comfortable position over the last 12 years

I have missed something here. For some reason I was thinking that I was getting BHP shares. I guess I'm just waiting for the $28.25 to go into my bank account.

 

[divs4ever]

I have missed something here. For some reason I was thinking that I was getting BHP shares. I guess I'm just waiting for the $28.25 to go into my bank account.

View attachment 153841

i would have referred BHP shares , but you don't always get what you want

MIN taking over NWE is an all scrip deal

cheers

 

[divs4ever]

OZ Minerals Limited to be removed from the S&P/ASX 200 Index
, APRIL 13, 2023: S&P Dow Jones Indices announced today that it will remove OZ Minerals
Limited (XASX: OZL) from the S&P/ASX 200, subject to final court approval of the scheme of
arrangement whereby the company will be acquired by BHP Lonsdale Investments Pty Ltd, a wholly
owned subsidiary of BHP Group Limited (XASX: BHP).
S&P Dow Jones Indices will remove OZ Minerals Limited from the S&P/ASX 200 effective prior to the
open of trading on Wednesday, April 19, 2023. OZ Minerals Limited will be replaced by Bellevue Gold
Limited (XASX: BGL), in the S&P/ASX 200 effective prior to the open of trading on Wednesday, April
19, 2023.
For more information about S&P Dow Jones Indices, please visit www.spglobal.com/spdji.

DYOR

i hold OZL ( 'free-carried' ) av. SP $5.175

will be sorry to see it go

 

[System]

On May 3rd, 2023, OZ Minerals Limited (OZL) was removed from the ASX's Official List in accordance with Listing Rule 17.11, following implementation of the scheme of arrangement between OZL and its shareholders in connection with the acquisition of all the issued capital in OZL by BHP Lonsdale Investments Pty Ltd (a wholly owned subsidiary of BHP Group Limited).

 

[Sean K]

Thank you OZL. You were kind to me. I might have preferred you ride out the inevitable copper boom over the next 10 years by yourself, but you did your job.

 

[Knobby22]

This company looks like making serious money now. Too bad it's been taken over.

Australia's huge new nickel mine will host world's biggest renewable micro-grid | RenewEconomy

Huge $1.7 billion copper and nickel mine in remote part of Australia will feature world's biggest off-grid renewables plant and extended periods of no fossil fuel power.

www.google.com.au

 

[divs4ever]

This company looks like making serious money now. Too bad it's been taken over.

Australia's huge new nickel mine will host world's biggest renewable micro-grid | RenewEconomy

Huge $1.7 billion copper and nickel mine in remote part of Australia will feature world's biggest off-grid renewables plant and extended periods of no fossil fuel power.

www.google.com.au

i held BHP before the take-over ( as well as OZL ) i still hold BHP currently
let's see if BHP has stopped buying white elephants , or will this be spun-off in the mid-term and maybe bundled with Nickel West so it doesn't look like another BHP 'fantastic dream 'that becomes a cash black hole