Rinehart’s Hancock Prospecting, SQM to buy Azure for A3.70 per share

Azure Minerals is pleased to announce that it has enteredinto a new binding Transaction Implementation Deed with Sociedad Quimica y Minera de Chile S.A. and Hancock Prospecting under which it is proposed that the Joint Bidders will acquire 100% of the shares in Azure by way of a scheme of arrangement for a cash amount of A$3.70 per Azure share or if the Scheme Proposal is not successful by way of an off-market takeover offer for a cash amount of A$3.65 per Azure share To facilitate the Transaction, SQM and Hancock have entered into a joint bidding agreement governing how the joint bid will be made. The Transaction replaces the existing SQM transaction announced by Azure on 26 October 2023 which comprised a scheme proposal of A$3.52 cash per Azure share and a fall-back takeover offer of A$3.50 cash per Azure share. Highlights * The Scheme Proposal of A$3.70 per Azure share implies a fully-diluted equity value for Azure of ~A$1.70 billion1 and represents a premium of: – 5.1% to the scheme component of the Original SQM Transaction of A$3.52 per Azure share…