Metro Mining Limited
(ASX:MMI) has announced it has secured 57.3 percent of the issued capital of Gulf after increasing the price of its per share offer.
Metro will now offer shareholders $0.62 cash per share or $0.52 cents per share plus 1 share in Metro.
The revised offer is an increase of 2 cents for both cash components of the bid.
On the 17 November the Gulf Board unanimously recommended Gulf shareholders accept Metro’s offer.
Metro Mining Limited reported a net loss of $6.83 million at 30 June 2016.
