Ashurst advises on A$4 billion lithium merger of Galaxy and Orocobre miragenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miragenews.com Daily Mail and Mail on Sunday newspapers.
Galaxy Resources Limited Announcement
Galaxy Resources Limited advises that the following announcement has been made to the Australian Securities Exchange which appears on the Company’s platform : Becoming a substantial holder The announcement can be viewed at: SOURCE Galaxy Resources Limited View original content
Galaxy Resources Limited (ASX: GXY) ( Company ) advises that the following announcement has been made to the Australian Securities Exchange which appears on the Company’s platform (ASX): Becoming a substantial holder
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Why Eagers Auto, Orocobre, Sims, & Titomic shares are storming higher
James Mickleboro | April 19, 2021 2:45pm |
More on:
In afternoon trade, the
S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a gain. At the time of writing, the benchmark index is up 0.2% to 7,078.3 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:
The Eagers Automotive share price has climbed 4% to $16.21. Investors have been buying the auto retailer’s shares after Morgan Stanley responded positively to its recent trading update. The broker notes that Eagers Automotive is trading well-ahead of expectations so far in FY 2021. In addition, the broker believes it is well-placed to be a much more profitable company in the future. Morgan Stanley has retained its overweight rating and lifted its price target to $18.00.
> Nachricht Orocobre and Galaxy agree to a proposed A$4B merger of equals, establishing a new force in the global lithium sector
Nachrichtenquelle: globenewswire | 19.04.2021, 13:18 | 79
th
largest global lithium chemicals company with a diversified production base and exciting growth platform, with potential to unlock significant synergies and realise value to be shared by all shareholders. BRISBANE, Australia, April 19, 2021 (GLOBE NEWSWIRE) Orocobre Limited (ASX:ORE, TSX:ORL) (
Orocobre) and Galaxy Resources Limited (ASX:GXY) (
Galaxy) are pleased to announce that they have entered into a binding Merger Implementation Deed (
MID) under which the two companies will merge via a Galaxy Scheme of Arrangement
Posted on 3125
Orocobre (TSX: ORL) and Galaxy Resources Limited have announced entry into a binding Merger Implementation Deed (MID) where the two companies will merge in a Galaxy Scheme of Arrangement (Scheme) where Orocobre will acquire 100% of the shares in Galaxy. Shareholders of Galaxy will receive 0.569 Orocobre shares for each Galaxy share held at the record date of the Galaxy Scheme of Arrangement. At the execution of the Scheme, Orocobre shareholders will own 54.2% of the fully diluted share capital of the combined entity and Galaxy shareholders will own the remaining 45.8%.
The board of both companies have unanimously recommended the Scheme and plan to vote all the shares they hold in favour of the Scheme. Martin Rowley shall become Non-Executive Chairman as Robert Hubbard would become Deputy Chairman, as Martin Perez de Solay will remain CEO and Managing Director of the group.