Chris Ellison’s Minerals Resources has made a dramatic intervention into IGO and Chinese partner Tianqi’s $136 million takeover of Essentials Metals by buying up to 20 per cent of the target on-market ahead of a key vote next week.
Sources have confirmed MinRes is behind a burst of buying this week that has pushed Essential’s share price to record highs and beyond the IGO/Tianqi cash offer price of 50¢ a share.
