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Aquila chooses Baosteel over MinRes

IN AN extraordinary turn of events, Aquila Resources has rejected a $A3.75 per share scrip takeover bid from new shareholder Mineral Resources in favour of the original $3.40 cash bid from Baosteel Resources and Aurizon Holdings.

Kristie Batten
Aquila chooses Baosteel over MinRes

Aquila confirmed that it received a proposal from MinRes on Monday, when the two companies entered trading halts, and discussions were held. But both companies said this morning that discussions had...

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