https://www.miningweekly.com

Norton's offer for Bullabulling gains traction

Norton's offer for Bullabulling gains traction

Photo by Bloomberg

1st July 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Gold miner Norton Gold Fields has increased its shareholding in takeover target Bullabulling Gold to 41.35%, prompting an increased offer clause.

In June, Norton increased its takeover offer for Bullabulling from 7c a share to 8c a share, on the condition that the company obtained a relevant interest of 30% or more in the takeover target by June 30.

Norton has increased its shareholding in Bullabulling despite the takeover target’s insistence that the offer price was inadequate and opportunistic. The Bullabulling directors have maintained their recommendation that shareholders reject the Norton offer.

However, Norton said on Tuesday that the recent support of the offer emphasised the attractiveness of the revised offer price, with the increased offer likely to result in more shareholders accepting the offer.

The company has again recommended that shareholders accept the offer, warning that stubborn investors could become minority shareholders in a company controlled by Norton.

Norton has further warned that the company would not increase its takeover price.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Rio-Carb
Rio-Carb

Rio Carb is an OEM (Original Equipment Manufacturer) of R-C700 Chromium Carbide (CrC) alloy clad wear plates and pipes used for heavy materials...

VISIT SHOWROOM 
WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.051 0.921s - 128pq - 2rq
Subscribe Now