Deep Yellow Limited cancelled the acquisition of Vimy Resources Limited for approximately AUD 300 million in a merger of equals transaction .
Deep Yellow Limited (ASX:DYL) cancelled the acquisition of Vimy Resources Limited (ASX:VMY) in a merger of equals transaction on November 17, 2021. The cancellation is attributable to rejection of offer by the boards on the grounds of limited time for due diligence, inappropriate control premium and inappropriate shareholding in the merged entity. Deep Yellow still considers an agreed merger between the two companies is the best alternative and the board remains open to the opportunity to engage with the Vimy Board at the appropriate time.