Takeover Completed
Bastion acquisition of Xanadu Mines
A$160m equity value
Announced 19 May 2025 · ASX: XAM · A$0.08 cash per share · 57% premium
Advisers
Xanadu Mines
Target
- Financial adviser
- Legal adviser
- Independent expert
Bastion
Acquirer
- Financial adviser
- ATB Cormark Capital Markets
(as Cormark Securities) - Legal adviser
- Target
- Xanadu Mines
- Acquirer
- Bastion
- Structure
- Off-market takeover
- Completed
- 25 Jul 2025
- Sector
- Copper and base metals
In the league tables
- M&A financial advisers, Calendar 2025 Jefferies #6 · ATB Cormark Capital Markets #38 · CIBC Capital Markets #38
- M&A financial advisers, completed, Calendar 2025 Jefferies #3 · ATB Cormark Capital Markets #31 · CIBC Capital Markets #31
- M&A legal advisers, Calendar 2025 Allens #3 · Stikeman Elliott #13 · HopgoodGanim Lawyers #27 · Bennett Jones #28
- M&A legal advisers, completed, Calendar 2025 Allens #7 · Stikeman Elliott #13 · HopgoodGanim Lawyers #23 · Bennett Jones #24
- Independent experts, Calendar 2025 BDO #1
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Sources
- 19 May 2025 Recommended A$0.08 Per Share Cash Offer ASX
- 27 May 2025 Target's Statement - Accept Bastion Takeover Offer ASX
- 30 May 2025 Completion of Dispatch of Bidder's Statement ASX
- 3 Jul 2025 Allens advises Bastion Mining on takeover of Xanadu Mines Limited allens.com.au
- 25 Jul 2025 Notice of compulsory acquisition ASX
- 4 Sep 2025 HopgoodGanim advises Xanadu Mines Limited on A$160 million takeover offer hopgoodganim.com.au