MHM gets targeted
PERTH (miningweekly.com) – ASX-listed MHM Metals has itself become a takeover target just days after abandoning a merger with Bermudan company Alliance Mining Commodities (AMC).
ASX-listed Mercantile Investment Company has launched an off-market takeover for MHM, offering shareholders 4c a share in cash for their holdings in MHM.
While the unconditional offer was reportedly made on December 9, MHM only on Thursday responded to the announcement, stating that it had contacted Mercantile to request a copy of the letter in order to give it appropriate consideration.
Following the failure of the AMC bid, MHM told shareholders that the company would continue to advance a number of other potential opportunities previously identified, where its balance sheet could be applied to create shareholder value.
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