China Inc has launched a £632 million ($988 million) friendly takeover bid for London-listed Kalahari Resources, bringing Extract Resources into the crosshairs of the Chinese giant.
Australian regulators have ruled that China Guangdong Nuclear Power Group Co. must offer $8.65 a share for Extract should it secure more than 50 per cent of Kalahari because Kalahari holds a 43 per cent stake in Extract.
Extract holds the rich Husab uranium deposit in Namibia, which is considered the fourth biggest uranium deposit in the world.
Extract shares last changed hands for $8.09.
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Mkt cap ! $11.63M | |||
| Open | High | Low | Value | Volume |
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Buyers (Bids)
| No. | Vol. | Price($) |
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| 4 | 2101399 | 0.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
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| 0.8¢ | 5692989 | 17 |
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