A COURT hearing to approve the $554 million takeover of Australian iron ore developer Flinders Mines by Russian steelmaker Magnitogorsk Iron & Steel Works has been adjourned, people familiar with the matter said, in a surprise move set to delay the deal's completion.
Flinders requested that trading in its shares be halted "pending the release of an announcement regarding the scheme implementation agreement" with Magnitogorsk.
Shareholders in Flinders voted in favor of Magnitogorsk's 30c a share cash offer at a meeting on March 30, meaning approval of the scheme by the Federal Court of Australia was the last big hurdle to the deal's completion
Australian News paper today
court adjurns the australian news paper today
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Last
82.0¢ |
Change
0.015(1.86%) |
Mkt cap ! $163.8M | |||
| Open | High | Low | Value | Volume |
| 80.0¢ | 82.0¢ | 76.5¢ | $5.101K | 6.525K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 18831 | 76.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 87.0¢ | 3999 | 1 |
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| Last trade - 15.42pm 29/07/2024 (20 minute delay) ? |
| RHK (ASX) Chart |