Supplier of goods and services to the resource sector Mineral Resources Ltd (ASX:MIN) has sweetened its takeover offer for minerals explorer Polaris Metals NL (ASX:POL).

Mineral Resources is now offering one of its shares for every 10 Polaris shares and five cents cash for every one Polaris share, valuing each Polaris share at 74.7 cents a share.

Mineral Resources says the offer and option offer will now be unconditional.

The company’s increased offer represents a premium of 147 per cent to the 30 cents closing price of Polaris shares on August 14 2009.

Mineral Resources initial offer was one of its shares for every 12.5 Polaris shares as well as a separate offer made for all of Polaris options on issue.

Mineral Resources 2009 net profit dropped slightly from the year before.