Takeovers Panel rules against Regent Pacific on BC Iron bid

Mining Weekly reports that the Australian Takeovers Panel on Wednesday sided with BC Iron (ASX:BCI) on the recently abandoned takeover offer from Regent Pacific (HKG:0575).

The editorial is quoted as saying,

In January, BC Iron entered into a scheme implementation agreement with Regent Pacific, which controls a 19,49% stake in the iron-ore miner, under which Regent offered to acquire all BC Iron’s shares for A$3,30 a share.

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