Commander Resources (TSE:CMD) has released an update.
Commander Resources Ltd. has urged its shareholders to reject an unsolicited and ‘highly opportunistic’ take-over bid from FruchtExpress Grabher GmbH & Co KG, which significantly undervalues the company’s assets, including its recent non-dilutive cash gains and growth prospects. The Board and a Special Committee, advised by legal and financial experts, deem the offer financially inadequate, highlighting the strong current position of Commander and the potential for future strategic alternatives. Shareholders are recommended to not tender their shares and take no action in response to the bid.
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