News: Western Desert Resources suitor calls it qu

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Western Desert Resources Limited’s (ASX:WDR) Chinese suitor Meijin Energy Group has withdrawn its takeover offer.



Western Desert describes the move as surprising and without warning.



The board supported the conditional offer announced last month to acquire all shares at $1.08, subject to due diligence.



Western Desert says it remains committed to the development of the Roper Bar iron ore project in the Northern Territory.



The minerals explorer recently announced the NT government declaring  Roper Bar as major project status.

 

Western Desert Resources booked a net loss of $3.4 million in the 2012 financial year.