Indophil takes a swipe at Lion
March 24th, 2008
Filed under: Mineral - Copper, Mineral - Gold, Operator - Indophil Resources NL
From: business.smh.com.au
Barry FitzGerald
INDOPHIL Resources’ managing director, Richard Laufmann, has been threatening to do something big since joining the cashed-up Philippines copper and gold group.
But few picked that Indophil would be bold enough to make a $340 million scrip bid for its 25.7 per cent shareholder, Lion Selection.
It is a case of the aggressive cub, Indophil, planning to take over the pride from Lion, after becoming frustrated it could not strike a friendly combination deal. As a resources investment company, Lion is generally a player in takeovers, not on the receiving end of an offer.
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