A legal battle delaying a $554 million Russian takeover of iron ore miner Flinders Mines is continuing to drag on, with an appeal from Flinders Mines adjourned until June 6.
Flinders Mines, owner of the Pilbara iron ore project in Western Australia, has received initial court approval for its $554 million takeover offer from Russia's Magnitogorsk Iron and Steel Works.
Adelaide-based Flinders Mines is planning to raise more than $50 million through an institutional placement and a fully-underwritten rights issue to progress its Pilbara iron ore project.
21 Oct 2009
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