FRG LYC

News: Lynas shareholders to lodge bid

  1. FNN News
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    16/05/11
    09:01
    Post #: 8403581
    .


    The failure of a controversial attempted sale last week may see two shareholders in Lynas Corporation Ltd (ASX:LYC) lodge a formal bid for the Crown and Swan deposits today.



    The Age reports that the shareholders, Seek Chairman Bob Watson and software millionaire Mark Suhr, are finalising the offer that could aggravate institutional shareholders.



    The news comes a week after the company formally terminated its proposed transaction with Forge Resources Ltd (ASX:FRG).



    In the first half of the 2011 financial year Lynas Corporation recorded a net loss of $20.5 million.


    FRG Price at posting: 53.0¢ Sentiment: None Disclosure: Held
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