CKRA Makes AU$70-million Offer for Cokal

Mining Weekly reported that Cokal Ltd. (ASX:CKA) has received an off-market takeover offer from Indonesia’s PT Cakra Mineral Tbk (CKRA).

As quoted in the market news:

Cokal said on Tuesday that CKRA was offering to acquire all the issued securities in the company for either cash or its own shares.

Under the first offer, Cokal shareholders would receive 15c in cash for each share held, valuing the company at A$70-million. Alternatively, CKRA would settle the transaction in its own shares, at an implied consideration of 19c a share.

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