FIRB foot-dragging helps kill Alto offer

CHINA-based Shandong Goldsea Group will let its A$28.2 million takeover offer for Alto Metals expire on July 8 because Australia’s Foreign Investment Review Board wanted a further six months to review the bid.

FIRB foot-dragging helps kill Alto offer FIRB foot-dragging helps kill Alto offer FIRB foot-dragging helps kill Alto offer FIRB foot-dragging helps kill Alto offer FIRB foot-dragging helps kill Alto offer
Goldsea said that would blow out the FIRB review process to 10 months from the initial application, and as it could not clarify why the extension was needed it withdrew its application.