Mineral Resources Limited (ASX: MIN) has extended the offer period under its off-market takeover bid for all the fully paid ordinary shares in Norwest Energy NL (ASX: NWE).
MinRes’ offer is for one of its shares for every 1300 Norwest shares.
The offer is now scheduled to close at 7pm (Sydney time) on March 16 (unless withdrawn or further extended).
The MinRes offer is unconditional and Norwest’s directors have unanimously recommended that Norwest shareholders accept the offer, in the absence of a superior proposal.
As announced to the ASX on February 17, MinRes has now acquired a relevant interest in a majority
of the voting shares in Norwest. As at March 2, MinRes’ stake in Norwest was almost 70%.