Australian miner Atlas Iron has announced that as of Thursday, September 15 it has received acceptances for its off-market takeover bid for emerging Australian mineral exploration company FerrAus which entitle Atlas to a relevant interest in 74.17 percent of FerrAus ordinary shares.
As SteelOrbis previously reported, shareholder approval has been obtained for the subscription agreement between Atlas and FerrAus, proposing approximately A$24.3 million for 37.4 million FerrAus shares, A$0.65 per share and the purchase of South East Pilbara iron ore assets for approximately 121.8 million FerrAus shares.