Amex Resources Limited's
(ASX:AXZ) board has unanimously recommended its shareholders accept its cash takeover offer by Waratah International (Asia) Limited.
The Director's of the iron ore mineral development company say they will also accept Waratah's offer in respect to their own holdings of Amex shares.
Waratah International (Asia) Limited is offering to pay $0.50 cash per Amex share.
The offer is set to close on 26 April 2017, unless it is extended.
Shares in Amex Resources Limited
(ASX:AXZ) last traded 3.6% higher at $0.43.
