Fe may pull Padbury bid

FE Limited’s bid to acquire Padbury Mining is in doubt, with Padbury shareholders handing a thumping win to the incumbent board in today’s extraordinary general meeting and Fe chairman Tony Sage saying the likelihood of a new mining tax has also made the company a less attractive acquisition target.

Fe may pull Padbury bid Fe may pull Padbury bid Fe may pull Padbury bid Fe may pull Padbury bid Fe may pull Padbury bid

Padbury shareholders comprehensively rejected a bid by dissident shareholder Denis McInerney to install Tony Sage and two other Fe Limited directors to the Padbury board today.

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