MERGERS & ACQUISITIONS
Aim-listed Metal Tiger on Monday rejected fellow-listed BMR Group’s indicative takeover offer on the basis that the potential bid “fundamentally undervalues” the natural resource investor. While Metal Tiger would not recommend to shareholders the offer of 0.231 BMR share for every one Metal Tiger share, the company indicated that it would consider negotiations on the back of a significantly improved indicative offer and following the results of a scoping study of its Botswana-based joint-venture (JV) assets.
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