FIRB approves Cardinal and Flinders transactions

AUSTRALIA’s Foreign Investment Review Board has raised no objections to deals that pave the way for both Shandong Gold Mining’s takeover of Cardinal Resources, and an increase in Todd Corporation’s control of Flinders Mines’ massive Pilbara iron ore project in Western Australia.

FIRB approves Cardinal and Flinders transactions FIRB approves Cardinal and Flinders transactions FIRB approves Cardinal and Flinders transactions FIRB approves Cardinal and Flinders transactions FIRB approves Cardinal and Flinders transactions
Shandong is pursing all of the shares in Cardinal it does not own with a A70c cash offer in a bid that values Cardinal at $395 million.
 
The prize is Cardinal's shovel-ready 5.