Blakes acts on iron takeover bid

Blake Dawson is acting for Atlas Iron Limited, an ASX-listed mining company, which has announced a recommended all scrip (with a cash/scrip alternative) takeover bid for Giralia Resources N.L.,…

Lawyers Weekly • 04 January 2011 • Big Law

Blake Dawson is acting for Atlas Iron Limited, an ASX-listed mining company, which has announced a recommended all scrip (with a cash/scrip alternative) takeover bid for Giralia Resources N.L., also listed on the ASX.

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The implied offer price of $4.57 per Giralia share represents a 52.9 per cent premium to the closing price of Giralia shares on the day prior to announcement. The offer was unanimously recommended by the Giralia Board and is subject to the opinion of an independent expert.

All of the Giralia directors have entered into pre-bid agreements with Atlas in respect of all of the shares they own, representing approximately 7.5 per cent of Giralia's shares.

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The Blakes team is being led by Murray Wheater, with the assistance of Ted Nixey, Raymond Lou, Constance Zhang and Lim Zang.

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