Extract Resources agrees to $2.4bn Chinese takeover offer01 Mar...

Extract Resources agrees to $2.4bn Chinese takeover offer

01 Mar 2012

Extract Resources independent directors have agreed to a A$2.2bn ($2.4bn) takeover offer from China Guangdong Nuclear Power Corporation (CGNPC).

some think the offer by dyl is a good offer ?
extract was sold to the Chinese in 2012 and the deal was done for about ( $5.50 lb in ground ) and was worked off a $55lb spot price !
the uranium price blossomed over 4 years prior to the Chinese move and the sector was already bear and declining before Fukushima which only accelerated the decline
now these early offers a way ahead of a blossoming uranium growth price which will outstrip the previous and have not factored in the potential rise in price
the evident shortage which is looming will put every solid sized resource in the spotlight even more if there is a lack of any new major discoveries
so the offer placed by dyl would be a bonanza for the dyl share holders forward looking !