Metals X increases acquisition offer

Company News

Metals X Limited (ASX:MLX) has increased its takeover bid for mining company Aditya Birla Minerals.

Metals X has increased its offer to 1 Metals X share for every 4.75 ABY share and has removed or waived several conditions of the offer.
 
The company also advised the offer has been extended to 30 December 2015.
 
The metals and mining company has said it is unlikely to further increase its offer, although it reserves the right to do so.
 
Metals X reported a net profit of $40.94 million at 30 June 2015.