BHP Billiton is advising that the Australian Treasurer has confirmed that there are no objections under the Australian Government’s foreign investment policy to BHP Billiton’s acquisition of WMC Resources Ltd.
The Treasurer's confirmation is subject to certain conditions which BHP Billiton has agreed to observe. As the conditions are acceptable to BHP Billiton, BHP Billiton will free its offer of the condition set out in clause 5.1(b) of the Bidder’s Statement. This is the second condition to have been removed.
BHP Billiton Chief Executive Officer, Chip Goodyear, welcomed the announcement by the Treasurer of the Government’s approval of its bid.
The offer is $7.85 for each WMC Resources Ltd share and the closing date* of the offer is 7.30 pm (Melbourne time) on 6 May 2005.