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19 JANUARY 2018 AL CIRCLE

Mercantile announces increase in bid consideration and extension of offer period for BOU takeover bid

EDITED BY : BEETHIKA BISWAS 1MINS READ

With reference to the Off Market Takeover Bid for 50% of the issued ordinary shares in Bauxite Resources Limited, Mercantile OFM Pty Ltd has lodged a revised notice with ASIC on 19 January increasing the offer.

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Mercantile has increased the Offer from 9.0 cents cash to 11.0 cents cash for one of every two BAU Shares.  Mercantile OFM has also extended the Offer Period to 7pm (Sydney time) 28 February 2018.

As a result of the Extension of the Offer Period, the new date for giving of the notice of the status of the conditions to Mercantile OFM’s takeover offer stands at 21 February 2018.

The notice also said that if the proposed capital return of  5c a share  announced by BAU on 15 December 2017 is implemented and BAU Shareholders accept Mercantile OFM’s Offer, the Mercantile OFM will reduce the consideration for BAU Shareholders against  their BAU Shares. It will then be adjusted with the value of the capital return actually paid by BAU to BAU Shareholders in relation to their BAU Shares.

 


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EDITED BY : BEETHIKA BISWAS 1MINS READ

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