Original article by Stuart McKinnon
The West Australian – Page: Online : 10-Oct-18
Hancock Prospecting has gained acceptances for more than 90 per cent of Atlas Iron’s shares, allowing it to move to the compulsory acquisition stage of its takeover bid. Hancock had initially offered $0.042 per share for Atlas, valuing its bid at $390m, before subsequently increasing it to $427m. Atlas’s assets include the Mt Webber iron ore mine, while Hancock has a controlling stake in the Roy Hill iron ore mine and a 50 per cent stake in the Hope Downs project.
ATLAS IRON LIMITED – ASX AGO, HANCOCK PROSPECTING PTY LTD, FORTESCUE METALS GROUP LIMITED – ASX FMG, MINERAL RESOURCES LIMITED – ASX MIN