Original article by Peter Milne
The Age – Page: Online : 22-Mar-23

Fortescue Metals Group’s founder Andrew Forrest has launched a takeover bid for Mincor Resources via his private company, Wyloo Metals. Forrest is offering $1.40 per share, which represents a 35 per cent premium to Mincor’s closing price on Monday. The nickel miner’s shares rose 41 per cent to $1.47 on Tuesday in response to the bid. Wyloo already has a 19.9 per cent stake in Mincor, which produces nickel sulphide in Western Australia’s Goldfields region. Mincor’s board has advised shareholders to take no action regarding the offer until it has considered the bid and makes a recommendation.

CORPORATES
MINCOR RESOURCES NL – ASX MCR, WYLOO METALS PTY LTD, FORTESCUE METALS GROUP LIMITED – ASX FMG