Resource Development Intl to buy Gladstone Pacific Nickel for 2.20 pounds/sh
LONDON (Thomson Financial) - Gladstone Pacific Nickel Ltd. said it its non-associated directors have agreed that the company be acquired by Resource Development International Ltd. (RDI) for 2.20 pounds per share, as announced on June 30.
The deal is conditional to RDI listing in Hong Kong or Australia and raising a minimum of A$1 billion in cash.
The company expects that the acquisition and the listing will be completed late this year.
RDI is currently controlled by Gladstone's former chairman Clive Palmer, who holds about 14 percent in the recently-formed entity.
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Resource Development Intl to buy Gladstone Pacific Nickel for...
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