Iron Ore Holdings Ltd (acquired by BC Minerals Limited)

On 11 August 2014, BC Iron Ltd (ASX: BCI) and Iron Ore Holdings Ltd (ASX: IOH) announced that they had entered into a Bid Implementation Agreement (BIA) under which BC Iron will offer to acquire all of the issued shares of IOH by way of an off-market takeover offer. The highlights from the transaction were as follows: BC Iron Ltd (ASX:BCI) (BC Iron) to strengthen its Pilbara iron ore portfolio via recommended off-market takeover offer for Iron Ore Holdings Ltd. BC Iron to offer 0.44 new BC Iron shares and A$0.10 in cash for each IOH share held Transaction will create a leading mid-cap iron ore company with: An attractive and complementary portfolio of production and development assets in the worlds best iron ore address Strong operating cash flows from Nullagine and Iron Valley Unaudited pro forma cash balance of A$190 million1 (as at 30 June 2014) The technical and financial platform to develop the Buckland project A proposed private haul road and port at Cape Pr...