LONDON (dpa-AFX) - Nova Resources has raised its offer for KAZ Minerals plc (KAZ.L) to 780 pence per share in cash, valuing the company at about 3.7 billion pounds. The increased offer price represents a premium of about 22 percent to the original offer price of 640 pence per share in cash.
The increased offer has been recommended by the Independent Committee of KAZ Minerals.
Nova Resources is a Dutch private limited liability company indirectly owned by a consortium comprising of KAZ Chairman Oleg Novachuk and KAZ non-executive director Vladimir Kim.
Nova and KAZ Minerals continue to expect that the acquisition will become effective in the first half of 2021.
Copyright RTT News/dpa-AFX