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Clutz and Freehills act on takeover bid
Clayton Utz and Freehills have acted on a $456 million off-market takeover bid for ASX-listed Brockman Resources Limited.
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Clutz and Freehills act on takeover bid
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Firms: Clayton Utz (Wah Nam International), Freehills (Brockman Resources Limited)
Deal: ASX/HKEx-listed Wah Nam International Holdings Limited made a successful off-market takeover bid for ASX-listed Brockman Resources Limited
Area: Corporate
Value: $456 million
Key players: Clayton Utz’s Perth corporate partner Mark Paganin led the firm's team, which included senior associate Stephen Neale and lawyer Elizabeth Maynard
Deal significance: The bid (through its subsidiary Wah Nam International Australia Pty Ltd) closed on June 14. Wah Nam is now entitled to proceed to compulsorily acquire the remaining shares in Brockman, an iron ore exploration and development company (its principal project being the Marillana Iron Ore Project in WA), which will result in it holding 100 per cent. Wah Nam is proposing to commence the formal compulsory acquisition process, in accordance with the Corporations Act 2001, in due course.
