Aurizon Holdings Limited (ASX:AZJ) and Baosteel have moved their bid to takeover Aquila Resources one step closer with the issue of the first supplementary bidder’s statement.
The rail freight operator has teamed up with Baosteel in an offer to buy 100 per cent of Aquila’s shares at $3.40 each.
The issue follows the deal receiving approval from the Foreign Investment Review Board.
When the deal goes through Aurizon will take 15 per cent in Aquila while Baosteel’s interest would be boosted to majority ownership of 85 per cent.
Aurizon Holdings posted a net profit of $107.3 million in the first half of the 2014 financial year.
