meevaller voor CBH aandeelhouders ?
CBH.AX...........0.23
April 27, 2010 3:32PM
CBH Resources' independent directors have unanimously backed Japan's Toho Zinc's friendly takeover offer for the miner.
CBH, a zinc, lead and silver miner with operations based in NSW, said in a statement Toho was offering 24 cents a share cash and $1000 cash per CBH convertible note.
The company said in a statement that the offer from Toho, which already owns 24.1 per cent of CBH, was above an independent expert's valuation range of 18.7-23.2 cents a share.
It said the offer was subject to 90 per cent shareholder approval.
"This offer from CBH's major shareholder, Toho, is very attractive for CBH shareholders, particularly when compared to previous proposals received recently by the company," Managing Director Stephen Dennis said.
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Toho said the offer valued CBH's ordinary equity at $262.7 million.
CBH has also been the target of Belgium-based Nyrstar, which has offered 19.5 cents a share and $1000 for each convertible note.