IGO Limited and Western Areas agreed to modify scheme of arrangement

IGO Limited (ASX: IGO) announced that it has agreed to modify the terms of the scheme of arrangement with Western Areas Limited (ASX: WSA) pursuant to which IGO will acquire 100% of WSA shares for AU$3.87 per share.

The Amended Scheme was unanimously recommended by the WSA Board of Directors. The amended scheme is conditional on WSA shareholder consent and Court approval. The Revised Scheme Consideration recognizes the extra financial value generated by WSA due to rise in nickel prices since the scheme of arrangement was first announced on 16 December 2021 along with the improvement in nickel price forecasts over the short and medium term.

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