Rinehart’s Hancock bids $390m for Atlas, trumps MinRes offer

Gina Rinehart’s Hancock Prospecting has solidified its intentions for ASX-listed Atlas Iron, revealing a 4.2c a share takeover offer, or A390-million, for the Pilbara iron-ore miner. Atlas told shareholders on Monday that the Hancock offer, which would open in about two weeks’ time, would be subject only to the condition that no prescribed occurrences occurred in relation to Atlas or its subsidiaries prior to the three business days after the end of the Hancock offer period.