Matsa Resources (ASX:MAT) Responds to Patronus Resources’ Takeover Bid
Unsolicited Takeover Bid
Patronus Resources Limited has made an unsolicited on-market takeover bid to acquire all issued fully paid ordinary shares in Matsa Resources not owned by Patronus and its associates.
Board Response
The Directors of Matsa Resources are carefully considering the Offer and plan to release a target statement with their recommendation to shareholders in the coming weeks. Shareholders are advised to TAKE NO ACTION regarding the Offer or any documents received from Patronus at this stage.
Legal Advisement
Matsa Resources has appointed Thomson Geer as its legal adviser in relation to the Offer. The Board will keep shareholders informed of further developments as they occur.
Motley Fool contributor Abbie Stokes 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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