Indophil bid war escalates
Filed under: Mineral - Copper, Mineral - Gold, Operator - Indophil Resources NL, Operator - Sagittarius Mines, Operator - Xstrata
From: www.mindanews.com
GENERAL SANTOS CITY (MindaNews/23 August) — The bid war to wrest control over the 34.5 per cent stake of Australian-based Indophil Resources NL at Sagittarius Mines Inc. (SMI) took a new twist last week as a new consortium upped its bid statement to outmaneuver Anglo-Swiss owned Xstrata Copper. XStrata Plc, which owns Australia-based Xstrata Copper, earlier tendered an offer to buy the 17.7 per cent share of Lions Selection at Indophil Resources at $1 dollar per share but a Hongkong-based company, Crosby Capital Partners, joined forces with Filipino corporation Alsons Corporation to improve the Xstrata offer by 28 cents more per share last June.
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