PRECIOUS METALS

Tietto swats away 'lowball' takeover bid

TIETTO Minerals says an unsolicited takeover offer by its second largest shareholder, China-based Zhaojin Capital, materially undervalues the company and its potential.

 Tietto MD Matt Wilcox

Tietto MD Matt Wilcox

Zhaojin made the 58c per share cash bid on Sunday and formalised it the following day. Having had a week to read over the offer, Tietto's board said it was inadequate despite coming at a 42% premium...

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