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    market news

    AMR Rejects Norilsk Offer

    Investing News Network
    May. 28, 2012 10:07PM PST
    Precious Metals

    Mining Weekly reported Asian Mineral Resources (TSXV:ASN) shareholders on Friday proceeded with a C$6.5-million private placement to Pala Investment Holdings.

    Mining Weekly reported Asian Mineral Resources (TSXV:ASN) shareholders on Friday proceeded with a C$6.5-million private placement to Pala Investment Holdings.

    As quoted in the market news:

    During a special shareholder meeting, shareholders approved the creation of a “control person”, which was a precondition for the company to close a deal with the financier.

    By moving ahead with the Pala placement, AMR shareholders effectively rejected a hostile takeover bid launched earlier in the week by the world’s biggest nickel and palladium producer, Norilsk.

    Click here to read the full Mining Weekly report.

    market newstsxv:asnprivate placement
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