Canyon Resources' Independent Board Committee Asks Shareholders to Take No Action on A2MP Investment's Acquisition Bid
MT Newswires Live
Aug 11
Canyon Resources (ASX:CAY) said its independent board committee recommended that shareholders take no action on A2MP Investments FZCO's offer to acquire the company until they receive a formal recommendation from the committee, according to a Tuesday filing with the Australian bourse.
A2MP Investments, a majority shareholder of Canyon Resources, is looking to acquire all the ordinary shares in the company that it doesn't already own for AU$0.05 per share in cash.
The independent board committee is assessing the takeover bid and will update shareholders in due course, Canyon said.
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