(Adds details on deal)
Nov 4 (Reuters) - Australian nickel miner Independence Group (IGO) said on Monday it planned to make an all-scrip A$312 million ($216 million) takeover offer for shares in Panoramic Resources Ltd (PAN) that it does not already own.
Independence Group said it would offer one of its shares for every 13 Panoramic shares, implying an offer price of 47.6 Australian cents per Panoramic share.
Independence Group, which currently owns a 3.8% stake in Panoramic, said the offer was at a 42% premium to the closing price of Panoramic shares on Friday.
The miner said it was reaching out directly to Panoramic shareholders after a number of unsuccessful attempts to engage the Panoramic Board in talks on a change of control.
Panoramic Resources wasn't immediately available for comment.
The offer comes a few days after Independence Group won improved terms in two recent offtake agreements for concentrate from its Nova mine, strengthening its position in the nickel market.
Last month, Independence Group reported a near 120% rise in net profit for the first quarter compared with the previous quarter.
($1 = 1.4470 Australian dollars)
(Adds details on deal) Nov 4 (Reuters) - Australian nickel...
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