CAPITAL MARKETS

Discovery sinks amid Cathay Fortune's reduced bid

DISCOVERY Metals has appointed a new chairman as the company kicks off the search for a potential takeover suitor, with former bidder Cathay Fortune Corporation revisiting the chance for a swipe at the copper producer, albeit at a reduced price.

Lauren Barrett
Discovery sinks amid Cathay Fortune's reduced bid

Emerging from a trading halt today, Discovery said the board had kicked off a process that could result in a “change of control of the company.” The move comes in the wake of Cathay Fortune and China-Africa...

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