Original article by Nick Evans
The Australian – Page: 19 : 12-Jun-24

An independent expert’s report from Grant Samuel has concluded that an all-scrip takeover offer for Alumina is ‘fair and reasonable’. Grant Samuel has indicated that Alcoa’s $4bn bid would deliver a substantial benefit for Alumina shareholders, who will control about 31.6 per cent of the merged group if the deal proceeds. However, the firm notes that Alumina shareholders will lose access to $493m worth of franking credits, although Alumina has not paid a dividend since June 2022. Shareholders are slated to vote on the deal in mid-July.

CORPORATES
ALUMINA LIMITED – ASX AWC, ALCOA INCORPORATED, GRANT SAMUEL AND ASSOCIATES PTY LTD