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Fortescue Metals Group Ltd ( (AU:FMG) ) has provided an update.
Fortescue Metals Group Ltd, through its subsidiary FMG Pilbara Pty Ltd, has increased its offer to acquire Red Hawk Mining Limited by offering $1.20 per share, a 14% increase from the base offer. Following the acceptance from major shareholders, FMG now holds approximately 78% interest in Red Hawk and plans to delist the company from the ASX. The offer is set to become unconditional after waiving the bid condition, with the Red Hawk Board recommending shareholders to accept the offer, emphasizing the low likelihood of a superior proposal emerging.
More about Fortescue Metals Group Ltd
YTD Price Performance: -1.45%
Average Trading Volume: 9,070
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $34.94B
See more insights into FMG stock on TipRanks’ Stock Analysis page.
