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Alto Metals confirms Middle Island takeover bid for Alto has lapsed

Alto's board of directors had earlier unanimously recommended that shareholders reject the unsolicited takeover offer by MID.

Alto Metals Ltd - Alto Metals notifies shareholders MDI take-over for Alto has lapsed

Alto Metals Ltd (ASX:AME) has confirmed that Middle Island Ltd's (ASX:MDI) off-market takeover bid for fully paid ordinary shares in the company has lapsed.

MDI’s 50% minimum acceptance condition, to which the offer was subject had not been met as of the close of the offer period on Friday, November 29.

Alto's board of directors had earlier unanimously recommended that shareholders reject the unsolicited takeover offer by MID.

Quick facts: Alto Metals Ltd

Price: 0.035 AUD

ASX:AME
Market: ASX
Market Cap: $9.47 m
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