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Bloomberg reported Extract Resources (ASX:EXT) will resume talks with potential partners after a bid by a Chinese state company.
Bloomberg reported Extract Resources (ASX:EXT) will resume talks with potential partners after a bid by a Chinese state company.
As quoted in the market news:
Australian regulators have ruled that state-owned China Guangdong Nuclear Power Group Co. must offer A$8.65 a share for Extract should the Chinese company’s 632 million-pound ($988 million) bid for Kalahari Minerals Plc (KAH) succeed. London-based Kalahari, whose directors have recommended the Chinese bid announced yesterday, owns 43 percent of Extract.