Shandong Gold

Cardinal Resources has received an all-cash takeover bid from Chinese producer Shandong Gold, which has offered to buy the West Perth-based company for 60 cents per share.

Russian-owned Nordgold has increased its bid to acquire Cardinal Resources to around $347 million, which trumps a competing proposal from Shandong Gold that has already been endorsed by Cardinal.

Takeover target Cardinal Resources has received a higher purchase offer from China-based Shandong Gold, after competing buyer Nordgold upped its bid last week.

Takeover target Cardinal Resources has recommended shareholders vote in favour of the recently-improved proposal from Shandong Gold, which is offering to buy Cardinal for around $395 million.

Shandong Gold has received federal government approval to proceed with its takeover of Perth-based Cardinal Resources, despite increasing sensitivity around Chinese foreign investment.

Russian-owned Nordgold has made a new offer to buy Cardinal Resources, trumping a competing bid from Chinese company Shandong Gold by around $26 million.

Chinese-owned Shandong Gold has responded to an increased takeover bid for Cardinal Resources, having offered to buy the West Perth company for around $566 million.

The directors of Perth-based Cardinal Resources have accepted a takeover proposal from Chinese company Shandong Gold, ahead of a competing bid from Russian-owned Nordgold.

Russian miner Nordgold has continued its fight for Perth-based Cardinal Resources, having matched an offer to buy the gold explorer for $1 per share.

Russian mining giant Nordgold alleges its takeover target Cardinal Resources has acted deceptively towards shareholders, with the matter escalated to the Takeovers Panel.

Russia’s Nordgold is not backing down in a takeover battle for Cardinal Resources, despite the Perth-based gold play in favour of a matching offer from Shandong Gold.

Russian miner Nordgold has extended its offer to buy Perth-based Cardinal Resources, one day after matching the off-market proposal from China’s Shandong Gold.

Takeover target Cardinal Resources has requested that its bidders be allowed to improve their proposals after having declared their $1 per share bids as ‘best and final’.

The Takeovers Panel has rejected a request from Perth-based Cardinal Resources to improve separate takeover offers from Russian mining giant Nordgold and China’s Shandong Gold.

A Ghanaian business has joined the battle to buy out Perth-based Cardinal Resources, topping previous bids for the gold explorer with a new cash offer of $1.05 per share.

China’s Shandong Gold has matched a new bid to buy out takeover target Cardinal Resources, having offered to pay $1.05 per company share.

Shandong Gold has assumed control of Perth-based Cardinal Resources, following a nine-month bidding war with Russia's Nordgold and despite two late takeover proposals.

All directors of Perth-based Cardinal Resources have accepted a takeover proposal from China’s Shandong Gold, which recently raised its offer price to $1.075 per share.

Several Perth companies executed value-creating mergers and acquisitions last year, none more so than Pilbara Minerals.

Focus has told shareholders to take no action in response to an unsolicited takeover from Theta Gold, which is looking to win over investors mulling funding options for the long-dormant Coolgardie mine.

Major Focus Minerals shareholder Shandong Gold has raised its stake in the WA explorer to some 63 per cent, squeezing out Theta Gold Mines as a potential buyer.