2 November 2007 – LAWFUEL – The Australia & New Zealand Legal Jobs Newswire – Mallesons Stephen Jaques has advised international mining company Xstrata on the $3.1 billion agreed takeover of Australian resource company, Jubilee Mines.
This is one of the largest of many deals Mallesons has worked on alongside Xstrata since its launch into the Australian resources market in 2002.
Jubilee management has unanimously recommended Xstrata’s $23 a share offer to shareholders and option holders. The bid represents a 36% premium to the 30-day volume weighted average price of Jubilee.
The Mallesons team, includes Partners Nick Pappas and Tim Bednall, Senior Associate Georgina Goldsworthy and Solicitor Rachael Bassil, who have been involved in all discussions, due diligence and final negotiations.
Lead Partner, Nick Pappas says “We are pleased to be working with Xstrata on this significant deal. We have advised Xstrata on all their asset purchases including the purchase of MIM holdings, but this deal reinforces Xstrata’s position as a major resources player”.
The offer is conditional on Foreign Investment Review Board approval and other customary conditions. The deal is expected to complete in December 2007.