PERTH (miningweekly.com) – ASX-listed Fitzroy River Corporation has extended its offer for fellow-listed Royalco Resources from the end of January until February 13.
The directors of Royalco have unanimously recommended that shareholders accept the offer in the absence of a superior proposal.
Fitzroy in October last year launched an on-market 18c-a-share takeover offer for Royalco, but in December increased the offer to 20c a share and waived the conditions.
The new Fitzroy offer valued Royalco at around A$10.54-million.