News: MDL France's ERAMET raises bid for Australia's Mineral Deposits

June 13 (Reuters) - France's ERAMET ERMT.PA on Wednesday increased its all-cash offer for Australia's Mineral Deposits Ltd (MDL) to A$1.75 a share, valuing the company at about A$322 million ($243.8 million).

The offer was 19.9 percent higher than ERAMET's last offer and represented a 51 percent premium to Mineral Deposits' closing price on the last trading day prior to the announcement of the earlier offer, ERAMET said.

The acquisition would enable the full consolidation of the TiZir joint venture, in which each company has a 50 percent stake. ($1 = 1.3207 Australian dollars)