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BC Iron Ltd (ASX:BCI) has recommended a cash takeover offer from Hong Kong's Regent Pacific Group, a major shareholder.
The deal values the company at $345 million.
Regent owns a 19.87 per cent stake and is offering $3.30 cash per share. It's an all-time-high price for the company.
Perth-based BC Iron is due to ship its first ore from the Pilbara this month.
BC Iron and Regent's shares were placed in a trading halt on Wednesday pending the transaction.
BC Iron posted a yearly loss of $1.4 million to June 30, 2010.
News: BC Iron recommends cash takeover
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Last
25.5¢ |
Change
0.010(4.08%) |
Mkt cap ! $735.5M | |||
| Open | High | Low | Value | Volume |
| 24.0¢ | 25.5¢ | 23.8¢ | $99.75K | 402.7K |
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| No. | Vol. | Price($) |
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| Price($) | Vol. | No. |
|---|---|---|
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