takeover by noble group

Shareprice will rocket today.
Noble Group makes an offer 75 cents /share

Arrium Limited (ASX: ARI) advises that after market close on 28 September 2012 it received an unsolicited acquisition proposal from a consortium of Noble Group Limited, POSCO Australia Pty Ltd, National Pension Service of Korea, Korea Investment Corporation and Korea Finance Corporation to acquire all of the shares in the company. The proposal was stated to be conditional, incomplete and non-binding.
Arrium met with the consortium's representative and advisers to discuss the proposal. The proposal contemplated an acquisition of all the shares in Arrium for an indicative cash price of A$0.75 per share by way of a scheme of arrangement. The indicative price represents a premium of only 8% over the volume weighted average price of Arrium's shares during the last three months.