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- Azure Minerals (AZS) responds to recent media speculation surrounding a potential takeover offer from SQM
- The latest offer, received on July 12, 2023, included an indicative offer of $2.31 in cash per Azure share
- After evaluating the expressions of interest, the company decided not to pursue further discussions with SQM
- Azure maintains a positive and collaborative relationship with SQM
- Shares last traded at $2.34
Azure Minerals (AZS) has responded to recent media speculation and officially confirmed that it has received expressions of interest from Sociedad Química y Minera de Chile S.A. (SQM) regarding a potential takeover.
These expressions of interest, the latest of which was received on July 12, 2023, included an indicative offer price of $2.31 in cash per Azure share.
These approaches were non-binding and carried various conditions, including due diligence, and foreign investment review board approval.
After conducting a thorough evaluation of these expressions of interest and considering the evolving potential of the Andover lithium project, Azure decided not to proceed with further discussions with SQM.
Interestingly, Azure’s share price surpassed the indicative offer price of $2.31, reaching an intraday high of $2.96 on August 8, 2023.
Even though Azure has chosen not to pursue the expressions of interest, the company announced it holds a positive and collaborative relationship with SQM.
Azure last traded at $2.34.
