Diatreme Resources Limited (AU:DRX) has released an update.
Diatreme Resources Limited has announced an unconditional off-market takeover bid for Metallica Minerals Limited, already holding a 57.34% interest and urging the remaining shareholders to accept the ‘best and final’ offer before it expires on June 25, 2024. Diatreme’s offer includes a share exchange ratio of 1.3319 Diatreme shares for every Metallica share, with potential tax relief for accepting shareholders. Metallica’s future liquidity and trading price may be adversely affected if the company is delisted from the ASX as Diatreme intends, should they not reach the compulsory acquisition threshold.
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