Independence makes $312m hostile bid

Original article by Brad Thompson
The Australian Financial Review – Page: 18 : 5-Nov-19

Nickel miner Independence Group is offering one of its shares for every share in Panoramic Resources, valuing the takeover target at $0.476 per share. Independence MD Peter Bradford says Panoramic had previously rejected several approaches regarded a friendly merger, prompting the hostile bid. Bradford anticipates further consolidation among nickel miners, and he expects the recent rise in the price of nickel to be sustained.

CORPORATES
INDEPENDENCE GROUP NL – ASX IGO, PANORAMIC RESOURCES LIMITED – ASX PAN, ZETA RESOURCES LIMITED – ASX ZER, BHP GROUP LIMITED – ASX BHP

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