Diatreme Resources Limited (AU:DRX) has released an update.
Diatreme Resources Limited has applied to the Takeovers Panel amidst an off-market bid to acquire Metallica Minerals Limited, with whom they previously had a mutual standstill agreement under a confidentiality deed. Metallica has been exploring alternative transactions that could potentially be superior to Diatreme’s offer, urging shareholders to hold off on accepting the bid. Metallica issued a replacement deed poll to waive the standstill, which would come into effect if no superior proposal is received by a specified date.
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