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Indonesia's PT Bumi Resources says Australian miner Herald Resources' directors accept offer

Indonesia's PT Bumi Resources says Australian miner Herald Resources' directors accept offer

Indonesian coal mining company PT Bumi Resources said Tuesday that Australian base metal miner Herald Resources Ltd.'s directors have recommended that shareholders accept its 553.6 million Australian dollar (US$526.8 million) offer for the company after increasing it to A$2.80 (US$2.67) per share.
The offer, revised from A$2.55 (US$2.43) per share, trumps a rival offer of up to A$2.65 (US$2.52) per share from Indonesia's Aneka Tambang and China's Shenzhen Zhongjin Lingnan Nonfemet Co., through their Tango Mining Pte. Ltd. vehicle.
The Bumi offer has been extended and will now close June 26.


Updated : 2021-07-29 05:46 GMT+08:00