Diatreme Resources Limited (AU:DRX) has released an update.
The Takeovers Panel has declined to issue a declaration of unacceptable circumstances regarding Diatreme Resources Limited’s concerns over Metallica Minerals Limited’s conduct amidst an ongoing off-market takeover bid. Metallica addressed issues relating to the disclosure of potential competing proposals and the definition of a ‘Superior Proposal,’ as well as the duration of a mutual standstill agreement, satisfying the Panel’s concerns.
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