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Bauxite Resources considering takeover offer

9th November 2017

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Takeover target Bauxite Resources on Thursday told shareholders not to take any action regarding a proposed takeover offer from Mercantile Investment Company.

Mercantile on Wednesday announced its plans to make a proportional takeover bid for half of Bauxite Resources, flagging its intent to halt exploration and to divest of the ASX-listed company’s assets.

Bauxite Resources told shareholders that the board was considering a response to Mercantile’s announcement.

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Edited by Creamer Media Reporter

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