The minimum acceptance condition has been reduced to 50.1%.
’s () board is still yet to make a formal recommendation to shareholders regarding the takeover offer from Ltd ().
On Wednesday, Middle Island reduced the minimum acceptance condition for the all-scrip offer from 90% to 50.1%.
This information will be contained in Alto’s Target Statement which has to be issued within 15 days of receiving the Bidder’s Statement.
The offer is for 5 Middle Island shares for every 1 Alto Metals share.
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