Extract Expects Takeover Bid from Taurus

Mining Weekly reported Extract Resources (TSX:EXT,ASX:EXT) announced it is expecting a bid from Taurus Minerals (LSE:KAHA) by March 1.

As quoted in the market news:

Taurus Minerals, a subsidiary of China Guandong Nuclear Power Corporation (CGNPC), on Friday declared its takeover of Kalahari Minerals unconditional, after securing an 89.5% shareholding in the company.

CGNPC has previously said that a 50% shareholding in Kalahari, by February 2, would trigger a A$8.65-a-share takeover offer for ASX- and TSX-listed Extract.

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