https://www.engineeringnews.co.za

Todd says offer price for Flinders will not increase

9th June 2016

By: Mariaan Webb

Creamer Media Contract Publishing Editor

  

Font size: - +

JOHANNESBURG (miningweekly.com) – New Zealand’s Todd Corporation said on Thursday that it had no intention to increase the offer price of 2.5c a share for Flinders Mines.

The company denied speculation that, shortly after the close of its takeover bid for Flinders, it intended to undertake a further process to acquire any remaining shares at a higher offer price.

“As previously announced, Todd would like to remind Flinders’ shareholders that the current offer price of 2.5c a Flinders share is best and final and will not be increased, in the absence of an alternative proposal or competing proposal from a third party,” Todd stated.

Earlier in the week, Todd extended the offer period to June 27.

The directors of Flinders Mines previously indicated that they had accepted an improved offer of 2.5c a share and had urged shareholders to do the same.

Todd was interested in Flinders’ West Pilbara Iron Ore Project, in Western Australia, and had previously tried to enter into an alliance on the development of the project.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 
Columbus Stainless
Columbus Stainless

Columbus Stainless, based in Middelburg, Mpumalanga, is Africa’s only producer of stainless steel flat products. In addition, Columbus is the only...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.048 0.838s - 140pq - 2rq
Subscribe Now