Supplier of goods and services to the resources sector Mineral Resources Ltd
(ASX:MIN) will move to compulsorily acquire all remaining shares in Polaris Metals NL
(ASX:POL) that it has not already acquired after receiving acceptances totalling 95.89 per cent.
The company announced that Lion Diversified Holdings Berhad, a shareholder of Polaris, has accepted Mineral Resources offer for Polaris Metals.
Last week the goods and services company increased its offer for Polaris offering one of its shares plus 10.1 cents cash for each Polaris share held up from one Mineral Resources share and 10 cents cash for each Polaris share held.
Mineral Resources says it does not intend to extend its offer beyond the closing date of January 25.
Mineral Resources says it will begin the process of compulsorily acquiring all remaining Polaris shares with a view to completing its acquisition of Polaris as soon as possible.
Mineral Resources financial year 09 profit came to $44.31 million.
