Fortescue Set to Acquire Alta Copper for C$1.40 per Share

Fortescue Ltd, through its subsidiary Nascent Exploration Pty Ltd, is poised to acquire all remaining shares of Alta Copper Corp not already owned, under a definitive arrangement. This move values Alta Copper at approximately C$138.8 million. Fortescue, already holding 35.7% of Alta Copper shares, offers a cash takeover at C$1.40 per share.

The offer represents a significant premium, notably a 50% rise over the 30-day volume-weighted average price before the agreement, and 100% over the previous month. Alta Copper's board endorses this transaction, highlighting the immediate, non-dilutive financial relief it presents amid the project's financial demands.

Approval from shareholders and regulatory bodies is pending, with a special meeting expected on January 26, 2026. Alta Copper's stock is anticipated to delist post-transaction, aligning with Fortescue's strategic expansion plans.