And this one which talks more about the complications (thumbs up from me)
Kalahari confirms a suitor after it leaps ahead on whispers
Takeover rumours put a shine on Kalahari Minerals' shares today, forcing the uranium miner to rush out a statement confirming it had attracted a suitor.
In early trading, whispers that a metals behemoth was set to pounce on the Namibia-focused group sent its shares rocketing. By 10.30am, the Aim-listed group confirmed it was in talks with an unnamed suitor that "may or may not lead to an offer being made".
To complicate matters, Rio Tinto, which owns an 11.5% stake in Kalahari, is in discussions to merge its subsidiary, the R?ssing Uranium Mine, with Extract Resources, in which Kalahari has a 43% stake.
This prompted speculation that a bid battle could break out, with Rio and the unnamed suitor fighting it out for the whole of Kalahari.
Gossips claimed the company could go for a generous-sounding ?4 a share, which would value Kalahari at a somewhat unlikely ?1 billion.
"The price sounds too high to me," said one cooler-headed trader. "But Kalahari's Namibian assets clearly make it attractive to larger miners on the lookout for acquisitions." Kalahari's shares rocketed 27p to 287?p, a gain on the day of over 10%.
EXT Price at posting:
$9.26 Sentiment: LT Buy Disclosure: Held
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