Media release: Clayton Utz advises Wyloo Consolidated on its successful $760 million takeover of Mincor Resources

Corporate partners Mark Paganin and Stephen Neale led the firm's team working alongside the Wyloo team, with key support from senior associate William Davies, and lawyers Tashreen Tourabaly, Victoria Bandurski and Daniel Martinez. Other core team members included partners Peter Feros and Keshni Maharaj and senior associates Amy Liu and David Wong (Tax), and partner Kate Casellas (Banking & Financial Services).

Wyloo is now entitled to proceed to compulsorily acquire the remaining shares in Mincor, which will result in it holding 100%. Wyloo will be proceeding with the formal compulsory acquisition process under the Corporations Act 2001 (Cth) in due course. Compulsory acquisition will be on the same terms as Wyloo's takeover offer, with remaining shareholders receiving $1.40 cash per Mincor share.

Wyloo's acquisition of Mincor aligns with its strategy of investing in and developing projects that will produce the raw materials needed for the rapid decarbonisation of the global economy. As commented on by Wyloo CEO Luca Giacovazzi, the acquisition of Mincor turns Wyloo into a fully integrated nickel business that brings together Mincor's high-grade nickel production from its Kambalda Nickel Operations with Wyloo's planned downstream processing facility in Kwinana with IGO. The acquisition also complements Wyloo's high-grade Eagle's Nest nickel-copper-PGE project in Ontario and its exploration projects in Quebec.