PERTH (miningweekly.com) – Hancock Prospecting will start the compulsory acquisition of the remaining shares in ASX-listed Atlas Iron, after gaining more than a 90% shareholding in the takeover target at the end of the offer on October 12.
Hancock’s subsidiary Redstone Corporation on Friday told Altas that it would lodge a notice of compulsory acquisition for the remaining shares in Atlas under the same terms as the offer, namely 4.6c a share.
Atlas in October appointed Sanjiv Manchanda as chief executive in a board overhaul, replacing Cliff Lawrenson, after the A$390-million offer closed.