BASE METALS

Independence Group lobs hostile bid for Panoramic

Independence Group has lobbed a hostile scrip bid for re-emerging nickel producer Panoramic Resources that features a 40-50% premium on recent market trades and values the target company at more than A$300 million (US$207 million).

 Independence Group is trying to add Panoramic Resources' nickel assets into the mix with its circa A$300 million scrip bid

Independence Group is trying to add Panoramic Resources' nickel assets into the mix with its circa A$300 million scrip bid

On IGO's numbers, the implied offer price is A47.6c per Panoramic share. However, IGO MD Peter Bradford indicated the offer wouldn't proceed if it wasn't allowed to undertake due diligence, saying the...

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