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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Recharge Metals Ltd | ASX:REC | Australian Stock Exchange | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.034 | 0.033 | 0.04 | 0.034 | 0.034 | 0.034 | 37,500 | 07:00:09 |
From Apr 2019 to Apr 2024
Iron Mountain Inc. on Tuesday said it reached an agreement in principle to buy Australian peer Recall Holdings Ltd. for about $2 billion in cash and stock, after its earlier bid for the document-management and data-storage company was rejected as too low.
The offer is subject to a number of conditions, including due diligence and regulatory approvals.
Iron Mountain first unveiled an offer for Recall in December, then valued at about $1.8 billion, Since then, Iron Mountain's bid has benefited from the strengthening of the U.S. dollar and more favorable tax assumptions.
Under the terms of the agreement, Recall shareholders would receive 0.1722 of an Iron Mountain share for each Recall share, or have the option to receive A$8.50 (US$6.74) per Recall share in cash.
Iron Mountain's December offer was valued at A$7 a share.
The deal would generate "significant synergies and be highly accretive," Iron Mountain Chief Executive William L. Meaney said in a news release.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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