- Write by:
-
Tuesday, November 17, 2020 - 3:39:16 PM
-
608 Visit
-
Print
Mining News Pro - The Australian Takeovers Panel has declined to intervene in the battle between Russian gold miner Nordgold and China’s Shandong Gold Mining for control of ASX- and TSX-listed Cardinal Resources
All the invested parties have individually approached the Takeovers Panel, urging an intervention to resolve a gridlock between Shandong Gold Mining and Nordgold.
Nordgold had requested affirmation that Shandong would be unable to increase its A$1 a share final offer, while Shandong was hoping to be granted leave to do just that.
However, the Takeovers Panel on Tuesday said that there was no reasonable prospect that the current situation between Shandong and Nordgold qualified as "unacceptable", adding that Shandong’s qualification in its last and final statement was not ambiguous, and that Nordgold’s matching of the Shandong offer and seeking to hold the Chinese bidder to its last and final statement was not a misuse of the `truth in takeovers` policy.
The Takeovers Panel also noted that despite the auction between Shandong and Nordgold having stalled, there was no material to suggest that the market was inefficient or uniformed.
Short Link:
https://www.miningnews.ir/En/News/608388
Vista Gold has released an updated feasibility study for its Mt Todd gold project in Northern Territory, Australia, to ...
Alcoa will buy Alumina in an all-stock deal that values the Australian firm at $2.2 billion, and makes the US company ...
Canada and Australia have agreed to promote shared priorities related to the extraction, processing, and refining of ...
Australia’s Syrah Resources said on Friday it will supply natural graphite product from its Balama graphite operations ...
The Australian government is considering a tax credit for companies that build processing facilities to boost the value ...
Many of the world’s biggest nickel mines are facing an increasingly bleak future as they wake up to an existential ...
US aluminum producer Alcoa Corp. made a $2.2 billion offer to acquire its Australian joint-venture partner Alumina Ltd. ...
A headline published in The Age back in July 2003 reads: “[Andrew] Forrest has a grand $1.2bn plan for tiny Perth mining ...
Rio Tinto reported a 12% fall in annual underlying earnings on Wednesday, in line with forecasts, but paid a ...
No comments have been posted yet ...