Northern Star Resources → De Grey Mining
completedNorthern Star Resources agreed to acquire De Grey Mining in an all-scrip scheme of arrangement, gaining full ownership of the Hemi gold project in the Pilbara region of Western Australia. Reported deal values range from around A$5 billion (implied transaction value) to a A$3.25 billion enterprise-value figure cited by some outlets.
Northern Star sought to secure the Hemi project, described as one of the largest and highest-quality undeveloped gold discoveries globally, to extend its production pipeline and consolidate its position as a major WA gold miner.
De Grey Mining's board recommended the all-scrip offer as a way to deliver shareholders re-rated, liquid Northern Star scrip and de-risk the funding and development of Hemi through a larger, cash-generative producer.
Not specifically reported in available sources.
Deal mechanics
Gilbert + Tobin
All-scrip scheme of arrangement
Subject to De Grey shareholder approval and Federal Court approval