MC Mining advises shareholders to reject takeover offer
A consortium represented by Goldway Capital Investment has made an all-cash off-market takeover offer of A$0.16 cash per share
04 March 2024 - 11:57
Junior coal miner MC Mining, which holds coal mining assets in SA, has doubled down on its call to shareholders to reject a proposed buyout offer by a consortium of investors, saying it was “opportunistically timed to deprive [shareholders] of future potential value” of the group’s assets.
In a target’s statement published by MC Mining on Monday, which followed a preliminary view published in mid-February advising shareholders to not accept the offer, the independent board committee provided further arguments outlining why they believed the offer undervalued the potential of the group’s assets...
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