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Cradle approves Tremont bid

Aussie specialty metals junior Cradle Resources (AU:CXX) has recommended a private equity-backed takeover from its partner at the Panda Hill niobium project in Tanzania, Tremont Investments. The deal values Cradle at roughly A$55 million (US$41 million).

Cradle approves Tremont bid Cradle approves Tremont bid Cradle approves Tremont bid Cradle approves Tremont bid Cradle approves Tremont bid

Cradle Resources share of Panda Hill in Tanzania looks like heading to its joint venture partner, Tremont

Tremont’s cash offer of A$0.33 per share is a 43.5% premium to Cradle’s last closing price and a 37.3% premium to the 20-day volume-weighted average price.

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