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Ashurst acts on resources takeover

Ashurst acts on resources takeover

Rum Jungle Resources Limited has announced its intention to make an off-market takeover offer for all the shares in Central Australian Phosphate.

Firms: Ashurst (Rum Jungle Resources Limited)

Deal: Project Arganara

Area: Corporate E&R

Value: $12.7 million (implied value at announcement)

Key players: John Sartori and Geoff Mann led for Ashurst

Deal significance: Combining the companies will bring together the complementary Barrow Creek and Arganara phosphate projects, which are adjacent deposits currently separately held by Rum Jungle Resources and Central Australian Phosphate. The offer implies a value of $12.7 million for the target, with a combined cash/scrip consideration.

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