Takeovers Panel Says Forrestania's Bid for Zenith Should Not End Before Determination of Proceedings
MT Newswires Live
Sep 07
Forrestania Resources (ASX:FRS) was ordered by the Takeovers Panel to ensure that the offer period under its takeover bid for Zenith Minerals (ASX:ZNC) does not end before the determination of the proceedings before the Panel, according to a Monday Australian bourse filing.
The panel said the new interim orders replace those dated Aug. 30, requiring Forrestania to extend its takeover bid to a fixed date.
The interim orders have effect until the earliest of a further panel order, determination of the proceedings, or two months from the date of the interim orders, the filing added.
Forrestania's shares fell 2% in recent trading on Monday.
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