New World Resources (ASX:NWC) said Kinterra Capital acquired a 39.5% stake in the firm, satisfying a condition for the increased offer price under its takeover bid for the firm, raising the offer price to AU$0.067 per share, according to a Thursday Australian bourse filing.
All of New World's directors have accepted Kinterra's offer in respect of all shares they hold or control, and the board unanimously recommends that shareholders accept Kinterra's offer in the absence of a superior proposal.
Shareholders of New World who have already accepted Kinterra's offer will automatically receive the increased offer.
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