Antler project in Arizona. Credit: New World Resources via LinkedIn
Kinterra Capital has made an improved offer to buy Australia’s New World Resources (ASX: NWC) as it looks to beat London-listed Central Asia Metals (LSE: CAML) in a takeover battle.
On Monday, Kinterra lifted its offer from A$0.057 to A$0.062 a share, the same price CAML offered in its off-market bid last week. CAML’s previous best offer was A$0.055 before Kinterra came into the fold.
At market close in Australia, New World’s shares traded at A$0.065 apiece for a market capitalization of A$215.7 million ($141.8 million).
‘Superior offer’
While its offer, on a per-share basis, is the same as CAML, Kinterra argues that its revised bid is “superior” in many aspects, including fewer conditions and a quicker timeline.
In its statement, the Canadian private equity firm noted that its proposal is subject only to no…
