Chinese Private Equity Firm Launches Hostile Bid of $824 Million for Discovery Metals

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.

To view the whole Reuters report, click here.