Rare earths company Lynas Corporation
(ASX:LYC) say they will not engage with Wesfarmers
(ASX:WES) on the terms outlined yesterday in their takeover proposal.
Lynas received an unsolicited indicative non-binding conditional proposal from Wesfarmers
(ASX:WES) earlier this week for 100 per cent of the ordinary shares at $2.25 cash per share.
The company came to this conclusion after consulting with advisers on the terms of the proposal.
Shares in Lynas Corporation
(ASX:LYC) are trading 0.95 per cent lower at $2.08.
