John Borshoff’s Deep Yellow’s finally made its move on fellow uranium play Vimy Resources.
Both companies’ shares went into a trading halt on Monday morning, citing potential change of control transactions.Sources said the discussions were well advanced, although it could take another day or two for the parties to agree on the final terms.Vimy owns the Mulga Rock project in Western Australia, located east of Kalgoorlie. It is pitched as one of the country’s largest undeveloped uranium resources. It also has projects in the Northern Territory and Canada.
The new offer comes only four months after Deep Yellow walked away from talks with Vimy, citing “limited engagement”. That deal would’ve seen Vimy shareholders receive one Deep Yellow share for every 3.74 Vimy shares. Aitken Murray, Houlihan Lokey and Gilbert + Tobin advised Deep Yellow on the previous offer, and are expected to feature again this time.co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.
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