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Article: TAKEOVER BATTLE FOR AUSTRALIAN IRON ORE FIRM POLARIS INTENSIFIES.

Article from:
AsiaPulse News
Article date:
October 6, 2009
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MELBOURNE, Oct 6 Asia Pulse - Takeover moves towards iron ore explorer Polaris Metals NL (ASX:POL) are heating up, after an Asian company announced its intention to outbid an offer by an Australian company.

Polaris said it was considering the announcement from Lion-Asia Resources Pte Ltd to make an off-market all cash offer of 60 cents per share, which valued the company at A$105.54 million (US$92.56 million).

The bid would trump a rival offer made in August by Australian mining services and contracting company Mineral Resources Ltd (ASX:MIN), Lion-Asia said in a statement.

The offer was lodged with the Australian Securities Exchange after the ...

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