Atlas Iron Limited (ASX:AGO) has received acceptances for its off-market takeover bid for FerrAus (ASX:FRS), which entitles Atlas to a relevant interest in 64.42 per cent of FerrAus shares.
Atlas’ interest in the iron ore developer will allow it to combine its South East Pilbara iron ore assets into FerrAus.
In the 2011 financial year, Atlas Iron delivered a maiden net profit of $168.6 million.
