Quantum extends Lincoln takeover offer
PERTH (miningweekly.com) – Suitor Quantum Graphite has again extended the period for its takeover offer to fellow-listed Lincoln Minerals, this time until July 14.
Quantum Graphite at the end of March extended its takeover offer until the end of business on May 15. The company is offering one of its own shares for every 40 Lincoln shares held.
Lincoln has continued to maintain that shareholders reject the takeover offer, with the company in April saying that with a restructured and motivated team at Lincoln Minerals, its quality assets on South Australia’s Eyre Peninsula and supportive major shareholders the company had the right fundamentals in place to progress Kookaburra Gully and realise value from this important project.
In its bidder’s statement, Quantum previously noted that the development of Lincoln’s assets within the company’s own business had the potential to deliver significant synergies that would generate greater value for Lincoln shareholders compared with the development of these assets by Lincoln as a standalone company.
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