Extract Resumes Partner Talks After Chinese Bid

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.

Click here to read the full Bloomberg report.