Metals X looks set to succeed in its long-running battle for control of Aditya Birla Minerals, with the takeover target recommending shareholders accept an increased offer that values the company at about $103 million.
Metals X has once again stepped up its pursuit of Aditya Birla Minerals, announcing today that its off-market $68 million takeover offer is now unconditional, with a quarter of Aditya shareholders already accepting the offer.
Metals X has waived a minimum acceptance condition on its $68 million takeover bid for Aditya Birla Minerals after lifting its holding in the copper miner to 18.24 per cent, less than previously di
Metals X's $82 million takeover offer for embattled copper miner Aditya Birla Minerals won't succeed after the target's largest shareholder said it wouldn't be accepting the offer.
Perth company Metals X has made a surprise takeover offer for embattled copper miner Aditya Birla Minerals, in a bid which values the target at about $86 million.
Private equity groups are on track to gain control of two mining operations, after Aditya Birla Minerals sold its mothballed Mt Gordon operation, while Atherton Resources looks set to be acquired in a takeover valued at about $56 million.
Famed 1980s deal maker John Spalvins and Perth investor Brettney Fogarty pushed today for major changes at embattled copper mine Aditya Birla Minerals, putting dozens of questions to directors and the auditor at a four-hour shareholder meeting.
Copper producer Aditya Birla Minerals will resume mining activities at its Birla Nifty mine less than four months after it was closed due to a sinkhole.
