Indophil gets $585m takeover bid from China's Zinjin

Indophil gets $585m takeover bid from China's Zinjin

Mineral exploration company Indophil Resources (ASX:IRN) has received a $585 million takeover offer from China’s Zinjin Mining Group.

Indophil’s board has unanimously recommended the $1.28 per share offer, which represents an 18% premium on the company’s most recent trading price prior to its lodgement.

Under the proposal, the transaction will be implemented through an off-market takeover.

But the merger requires the approval of at least 90% of shareholders, as well as the relevant regulatory bodies.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags Mergers and acquisitionsFIRBIndophil

Show Comments