Mantra board supports reduced takeover offer

The Canadian Press reports on Mantra Resources (TSX:MRL,ASX:MRU) board of directors is supporting on a reduced takeover offer.

The market news is quoted as saying:

Mantra, headquartered in Perth, Australia, announced Monday that its board and a major shareholder have agreed to a revised offer totalling A$7.02 cash, down from A$8 per share.

Atomredmetzoloto (ARMZ) would pay only A$6.87 in cash directly while Mantra would pay its shareholders a cash dividend of 15 cents Aus per share.

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