Australian miner Atlas Iron has announced that as of Wednesday, September 21 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 95.75 percent of FerrAus ordinary shares.
As SteelOrbis previously reported, if Atlas is entitled to compulsorily acquire the outstanding FerrAus ordinary shares at the close of the offer on October 5, 2011, it intends to proceed with compulsory acquisition of those FerrAus ordinary shares and any FerrAus ordinary shares which come into existence within the period of six weeks after Atlas gives the compulsory acquisition notice