AQA aquila resources limited

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    Aquila Resources Limited (ASX:AQA) has received a bidder’s statement from Chinese steel giant Baosteel and Aurizon Holdings Limited (ASX:AZJ).


     


    The release is part of a takeover bid by the two-companies, for the coal and iron ore explorer, that is estimated to be worth $1.4 billion.


     


    Baosteel has a representative on the Aquila board so an independent board sub-committee, excluding the Baosteel members, has been established to consider the offer.


     


    The offer period may be extended pending approval from the Foreign Investment Review Board. 


     


    Aquila Resources reported a net loss of $590,000 in the first half of the 2014 financial year.

 
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Currently unlisted public company.

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