Prominvest Tops Aditya Bid For Northern Iron

- July 30th, 2012

Reuters reported Northern Iron Ltd (ASX:NFE) received a $550 million takeover offer from Prominvest AG, just topping an earlier bid from Aditya Birla Group (BOM:500057).

Reuters reported Northern Iron Ltd (ASX:NFE) received a $550 million takeover offer from Prominvest AG, just topping an earlier bid from Aditya Birla Group (BOM:500057).

As quoted in the market news:

The two bidders are eying Northern Iron’s high quality iron ore mine in Norway, at a time when benchmark iron ore prices are falling, hitting their lowest level in more than two-and-a-half years on Friday.

Northern Iron said the new offer from Prominvest, pegged at a cash price of A$1.42 a share, was both indicative and highly conditional.

Click here to read the full Reuters report.

Get the latest Iron Investing stock information

Get the latest information about companies associated with Iron Investing Delivered directly to your inbox.

Iron Investing

Select None
Select All

Tags

Tags:

Leave a Reply