Base Resources moves towards World Titanium Resources takeover
Published: Tuesday, 23 December 2014
Base Resources plans to become an East African-focused mineral sands player with the acquisition of World Titanium. The takeover will expand its resource as well as diversifying its geographical risk profile, which is significant in light of the recent levy disputes Base has faced at its Kenyan Kwale project.
Australia-listed Base Resources Ltd has
made an off-market takeover offer for exploration company World
Titanium Resources Ltd.
The offer of a single Base share for every five World
Titanium share represents a significant premium to the traded
prices of World Titanium shares as of 22 December 2014 and is
subject to limited...