Some of functionality may not work while you disabled JavaScript. Enable JavaScript for better User Exprience.
Access here alternative investment news about Australia’s Mineral Resources Drops Out Of Race For Atlas Iron
Real Assets

Australia’s Mineral Resources Drops Out Of Race For Atlas Iron

by juniorminingnews.com posted 3months ago 19 views
By Cecilia Jamasmie Mining infrastructure supplier Mineral Resources (ASX: MIN) has bowed to Australia’s richest woman, Gina Rinehart, in the battle for junior iron ore miner Atlas Iron (ASX: AGO), by saying Wednesday it would not make an offer to counter her A$390 million ($288 million) cash bid. Fortescue Metals still has a 19.9%-stake in Atlas and has not yet disclosed whether it plans to launch a rival bid or sell its holding into Hancock’s offer. Mineral Resources’ withdrawal means Atlas’ board is likely to recommend Rinehart’s Hancock Prospecting offer in the absence of a superior proposal.