Metallica Responds to Diatreme’s Takeover Bid

Diatreme Resources Limited (AU:DRX) has released an update.

Metallica Minerals Limited (MLM) has issued a Second Supplementary Target’s Statement, informing shareholders of a takeover bid by Diatreme Resources Limited (DRX), which has achieved about 56% acceptance of Metallica shares as of June 4, 2024. While the offer is still subject to conditions, Metallica is prepared to waive a previously agreed standstill undertaking by June 17 if no superior proposal emerges. Shareholders are cautioned that there is no certainty of a better offer, despite ongoing due diligence by an interested party.

For further insights into AU:DRX stock, check out TipRanks’ Stock Analysis page.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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