Wesfarmers says it remains open to engaging with the Lynas board despite rejection of its initial takeover bid.
Lynas has been locked in a dispute with Putrajaya over the disposal of waste at its processing plant in Kuantan.
An initial offer of A$1.5 billion by the retail-to-chemicals conglomerate was previously rebuffed by Lynas’ board, which termed the deal “highly conditional”. Wesfarmers’ initial bid was subject to a range of conditions, including that Lynas has relevant operating licences in Malaysia for a “satisfactory period” following the close of the deal.
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