Eramet: opens takeover bid on Mineral Deposits Limited
(CercleFinance.com) - Eramet has announced that its takeover bid to acquire all the share of Mineral Deposits Limited (MDL) that it does not already hold, at a price of 1.
46 Australian dollars per share, is now open.
The deal, which is fully in cash, values MDL at approximately 291 million Australian dollars. Through it, Eramet has obtained support from MDL's key institutional shareholders, representing 13.3% of the shares.
The offer, which was announced on 27 April, is intended to enable the full consolidation of TiZir, a joint venture created in 2011 and equally held by Eramet and MDL, which has been carrying out an integrated activity in the field of mineral sands in Senegal and Norway.
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