Herbert Smith Freehills is advising TIO (NZ) Limited (TIO), a wholly-owned subsidiary of The Todd Corporation Limited (Todd Corporation) on its unconditional all-cash takeover bid for Flinders Mines Limited (Flinders), which values Flinders at approximately A$38 million.

Todd Corporation is one of New Zealand’s largest companies and has interests in oil and gas exploration and production, minerals, electricity generation, energy retailing, property development, healthcare, technology and wine.

The deal is being led by Herbert Smith Freehills partners Stephen Dobbs and Andrew Rich and supported by senior associate John Natal and solicitors Philip Cooper and Joshua Santilli.

Stephen Dobbs said, “We are delighted to be advising TIO on its bid for Flinders. We very much enjoy working with the team at Todd and it is great to have the opportunity to assist them on strategic transactions such as this”.