AIC shareholders urged to accept deal
PERTH (miningweekly.com) – ASX-listed takeover target AIC Resources has urged shareholders to accept an offer from fellow- listed Intrepid Resources.
Intrepid is offering one of its own shares for every two AIC shares held, which will result in Intrepid shareholders holding a 27% interest of the combined company, while AIC shareholders will hold the majority 73% interest.
This was the second takeover attempt of AIC by Intrepid, with Intrepid’s previous offer of one share for every three AIC shares failing to gain traction.
The AIC on Friday urged shareholders to accept the offer in the absence of a superior proposal.
The offer will close on April 30, and is subject to a number of conditions, including a minimum 90% acceptance condition and Intrepid shareholder approval, as the merger is classified as a reverse takeover.
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