MDL urge acceptance of Eramet offer
PERTH (miningweekly.com) – Takeover target Mineral Deposits (MDL) has urged shareholders to accept the revised offer from joint venture partner Eramet.
Eramet earlier this month declared its offer for MDL unconditional, while maintaining the offer price of A$1.75 a share in cash for each MDL share held, saying it will not be increasing its offer.
In its target statement, MDL said on Tuesday that although the company had engaged with third parties regarding a potential competing offer, no such proposals have emerged, while Eramet’s voting power had increased to 43.41%.
“The MDL directors have also had regard to the fact that although Eramet’s voting power in MDL is currently less than 50%, Eramet is now the single largest MDL shareholder and, with a voting power of 43.41%, is effectively in a position where it has control of MDL,” the company said.
With Eramet holding the lion’s share of MDL shares, the company warned shareholders that liquidity of the company’s shares would be substantially reduced.
Additionally, if Eramet gained a foothold of more than 50%, it would seek to remove MDL shares from the official ASX list, meaning that the remaining shareholders will be unable to trade their shares on the bourse.
MDL told shareholders that the cash offer provided shareholders with certainty following the effective change of control, and urged their remaining shareholders to accept the offer.
Eramet’s takeover offer will close on July 13.
Comments
Research Reports
Projects
Latest News
Showroom
Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points
VISIT SHOWROOM
For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
