Genesis Minerals' Magnetic Takeover Looks Attractive -- Market Talk

Dow Jones
02/16

2334 GMT - Ord Minnett is upbeat about Genesis Minerals' planned takeover of Magnetic Resources. Genesis today said it has agreed to a deal that values Magnetic's equity at roughly A$639 million. Under the offer, Magnetic shareholders will get A$1.40 in cash and 0.0873 share in Genesis for each share that they own."At first glance, this looks like attractive bolt-on when considering the price paid," analyst Paul Kaner said. Ord Minnett also likes the potential for savings from combining operations. "Furthermore, it justifies a Laverton mill expansion to 4.5 million-5 million tons per annum to drive production growth to +500,000 oz per annum," Ord Minnett adds. "As such, we'd expect the market to look favorably upon this deal over time." (david.winning@wsj.com; @dwinningWSJ)

 

(END) Dow Jones Newswires

February 15, 2026 18:34 ET (23:34 GMT)

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