The Takeovers Panel has knocked back an application from the Western Australian Fire and Emergency Services Superannuation Board regarding a LinQ Resources Fund takeover proposal launched by Singap
LinQ Resources Fund has accepted an off-market takeover bid from Singapore-based investment house IMC Resources that values the target at around $80 million.
LinQ Resources Fund shares have nearly doubled in price after the investment company announced a proposal to delist from the Australian Securities Exchange.
The company behind West Perth-based LinQ Resources Fund has recommended its shareholders vote against a resolution from stakeholder Carrousel Capital, which it says will have a negative effect on the fund's performance.
