Bushveld Minerals (LON:BMN) is planning a strategic review of Lemur Resources now its offer for the Aussie-listed firm has closed.
The takeover bid closed at 5pm Western Australia time on Friday, November 1, the company said. Bushveld now owns a majority interest of 54.39% of Lemur's share capital.
Bushveld chief executive Fortune Mojapelo said on Tuesday: "I am pleased to announce following the closing of the deadline, Bushveld has acquired a majority interest of 54.39% in Lemur Resources.
"The company intends to promptly conduct a comprehensive strategic review on Lemur in the coming weeks and will update the market accordingly."
Shares dipped in early deals to 3.075p.