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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Minara Fpo | ASX:MRE | Australian Stock Exchange | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.00 | - |
From May 2019 to May 2024
Switzerland-based commodity trader Glencore International PLC (GLEN.LN) has moved within sight of full control of Australian nickel miner Minara Resources Ltd. (MRE.AU), with its shareholding in the company crossing a crucial threshold Wednesday.
In a regulatory announcement, Glencore said that its stake in the Western Australia-based miner had risen to 91.46% from 85.54% previously. That takes it above the 90% level at which it can launch a compulsory acquisition of the remaining shares under Australian law.
Few investors have doubted Glencore's ability to complete the offer, first announced Aug. 24 and valuing the target company at A$1.02 billion. Glencore already owned 73% of Minara's shares, a 40% stake in its Murrin Murrin nickel mine and processing plant, and has two directors on the Minara board.
Minara shares closed Tuesday at Glencore's offer price of 87 Australian cents.
-By David Fickling, Dow Jones Newswires; +61 2 8272 4689; david.fickling@dowjones.com
1 Year Minara Resources Chart |
1 Month Minara Resources Chart |
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