Competing Bid for New World Resources Likely, Euroz Says

MT Newswires Live

Jul 14

New World Resources (ASX: NWC) is likely to attract a competing takeover bid, as interest heats up following an improved offer from private equity firm Kinterra Capital, according to a Monday note by Euroz Hartleys.

On July 7, New World said Kinterra had raised its offer to AU$0.063 per share, with the potential to increase it to AU$0.064 if the firm secures more than 30% of the company by the extended deadline of July 17.

The company determined that it could lead to a superior proposal compared to the AU$0.062 per New World share takeover bid from Central Asia Metals.

Euroz noted that the company's shares are trading above the latest offer price, reflecting market expectations of a potential bidding war and rising copper sector optimism.

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