Red Hawk Mining Limited (ASX:RHK) Receives Increased Offer Price from Fortescue
Offer Details
Fortescue Ltd’s subsidiary FMG Pilbara Pty Ltd has triggered an increased offer price of $1.20 per Red Hawk Mining share, up from the base price of $1.05, following the acquisition of a 78% stake in the company.
Shareholder Acceptance
Major shareholders TIO (NZ) Limited and OCJ Investment (Australia) Pty Ltd have accepted the offer, contributing to FMG’s relevant interest of approximately 78%.
Future Plans
FMG plans to waive the remaining condition by 17 February 2025, making the offer unconditional, with payments to follow within 10 business days. The company also intends to delist Red Hawk Mining from the ASX after the offer concludes.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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