Kula Gold (ASX:KGD) received notice that Forrestania Resources (ASX:FRS) on Tuesday increased its holdings in the company to 81.28% from 79.41%, according to a Wednesday filing with the Australian bourse.
Earlier this month, the company's board recommended that its shareholders accept Forrestania's off-market takeover bid for all the shares it does not already own in the company, on the basis of one Forrestania share for every 5.6 Kula shares.
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