Sierra Rutile Holdings Limited (AU:SRX) has released an update.
Sierra Rutile Holdings Limited has received an unsolicited takeover bid from Leonoil Company Limited, offering A$0.18 cash per share for all outstanding shares, already owning 19.85% of the company. The offer may surpass an existing agreement with Gemcorp, prompting a potential bidding war as Gemcorp has three business days to counteroffer. Shareholders are advised to hold off on decisions as the situation unfolds and further updates will be provided.
For further insights into AU:SRX stock, check out TipRanks’ Stock Analysis page.
