Xstrata abandons $545M Indophil bid

SWISS miner Xstrata has dumped its $A1.28 per share offer for takeover target Indophil Resources, announcing the Indophil bid would not be extended beyond the scheduled closing date of August 29.

Xstrata abandons $545M Indophil bid Xstrata abandons $545M Indophil bid Xstrata abandons $545M Indophil bid Xstrata abandons $545M Indophil bid Xstrata abandons $545M Indophil bid

The news ends Xstrata's tussle for control of Melbourne-based Indophil with rival bidder Stanhill Resources - a consortium led by Indophil's chief executive Richard Laufmann and comprised of

loader
  • NEW: Digital version of PNG Report magazine - View here
  • Porgera: Barrick-PNG talks go on - Read more
  • Follow the companies investing in the PNG market - Read more

Most read Regions