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Chinese Private Equity Firm Launches Hostile Bid of $824 Million for Discovery Metals
Oct. 23, 2012 11:19AM PST
Base Metals Investing Reuters reported that a Chinese private equity firm has entered a hostile takeover bid of A$824 million for Australian Copper miner Australia’s Discovery Metals Ltd.
Reuters reported that a Chinese private equity firm has entered a hostile takeover bid of A$824 million for Australian Copper miner Australia’s Discovery Metals Ltd.
As quoted in the market report:
The decision to go hostile after Discovery’s surprise rejection of an initial bid has bolstered expectations that resource-hungry Chinese firms will seek more acquisitions in the sector, especially among companies that have promising projects in emerging markets.
