PERTH – ASX-listed Mineral Resources has taken a majority interest in takeover target Norwest Energy, after gaining a 53.86% share in the company.
The company later revised its offtake offer to one fully paid ordinary share in MinRes for every 1 300 Norwest shares held, implying an offer price of 7.41c per Norwest share and implying a value of A$497-million for the takeover target.The Norwest directors unanimously recommended that shareholders accept the revised offer.
“Accepting our offer is a no-brainer. Those who don’t accept will be left behind in a MinRes-controlled company with none of the upside of being a MinRes shareholder or exposure to our world-class portfolio of diversified assets.
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