The Australian mining group Consolidated Minerals Limited (ConsMin) has announced that following the review of the competing offers made to ConsMin shareholders by Palmary Enterprises (Palmary) - which is controlled by the Ukrainian investment company Privat Group (Privat) - and by the Pallinghurst Consortium (Pallinghurst), ConsMin's BoD found Palamary's offer to be superior to Pallinghurst's. Consequently, ConsMin has maintained its recommendation to its shareholders to accept Palmary's unconditional cash offer of $4.50 per share.
In addition, ConsMin has stated that since the current trading price of its shares is higher than the offers of either Palmary or Pallinghurst, the company's shareholders may find it more attractive to sell a part of or all of their shares on the market.