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Mining company takeover underway

Mining company takeover underway

Stephen Dobbs, Herbert Smith Freehills

A global and a boutique have advised on a takeover bid for Australian iron ore mining company Flinders Mines Limited.

Firms: Herbert Smith Freehills (TIO (NZ) Limited); DMAW Lawyers (Flinders Mines Limited)

Deal: TIO (NZ) Limited has made a takeover bid for Flinders Mines Limited.

Value: Approximately $38 million

Area: M&A

Key Players: The Herbert Smith Freehills team is being led by partners Stephen Dobbs (pictured) and Andrew Rich, with support from senior associate John Natal and solicitors Philip Cooper and Joshua Santilli.

Deal Significance: TIO (NZ) Limited is a wholly owned subsidiary of The Todd Corporation Limited.

Todd Corporation is one of New Zealand’s largest companies and has interests in oil and gas exploration and production, minerals, electricity generation, energy retailing, property development, healthcare, technology and wine.

TIO has made an unconditional all-cash takeover bid for Flinders Mines Limited, an emerging Australian iron ore mining company.

Flinders has valued the takeover at approximately $38 million.

 

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