Extract Says May Get Takeover From Miner, Customer Pair
July 15 2009 - 10:47PM
Dow Jones News
Extract Resources Ltd. (EXT.AU) said Thursday the company may
receive a takeover offer from a consortium comprising a miner and a
customer at some point in time, but wouldn't be more specific.
Perth-based Extract's shares have soared since December, as Rio
Tinto Ltd. (RTP) built a 15.6% stake, and rival investors began to
campaign for a greater say in the future of its Rossing South
project in Namibia, considered to be one of the world's most
promising uranium deposits.
"I think at some point we're going to attract the interest of a
consortium between two companies; one which will be a miner, one
which will be the end user," Extract's investor relations manager,
Richard Henning, said at an investor briefing.
"And then our shareholders will be given a choice - do you want
to accept that sort of a bid or do you want the company to keep
doing what it's focused on."
-By Ross Kelly, Dow Jones Newswires; 61-2-8235-2957;
ross.kelly@dowjones.com
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