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Fenix Resources Advances Takeover Bid for CZR Resources

Story Highlights
  • Fenix Resources executes agreements with CZR option and performance right holders.
  • CZR board and major shareholder support Fenix’s takeover bid, pending no better offers.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.

CZR Resources Ltd ( (AU:CZR) ) has shared an update.

Fenix Resources Ltd has announced the execution of Option Cancellation Deeds and Performance Right Cancellation Deeds with nearly all CZR Resources Ltd option holders and all performance right holders. This move is part of Fenix’s off-market takeover bid to acquire all CZR shares, offering CZR shareholders 0.85 Fenix shares per CZR share, increasing to 0.98 shares if Fenix secures a 75% interest by March 21, 2025. The CZR board unanimously recommends shareholders accept the offer, with major shareholder Mark Creasy also indicating support, provided no superior proposal emerges.

More about CZR Resources Ltd

YTD Price Performance: 21.43%

Average Trading Volume: 341,248

Technical Sentiment Consensus Rating: Sell

Current Market Cap: A$60.37M

For an in-depth examination of CZR stock, go to TipRanks’ Stock Analysis page.

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