Lynas snubs A$1.5bn Wesfarmers offer

ASX-listed Lynas on Wednesday told shareholders that after evaluating the indicative non-binding and highly conditional takeover proposal from fellow listed Wesfarmers, the company has taken the decision not to engage with the suitor on the terms outlined in the proposal.

Wesfarmers earlier this week launched a A$1.5-billion takeover offer for Lynas, offering shareholders in the company A$2.25c a share in cash for all the shares held.