ConsMin down on takeover talk

THE much-anticipated takeover bid for Consolidated Minerals Ltd by Territory Resources Ltd was met with a negative response from the stock market this week, with both companies’ share prices falling. ConsMin, which announced it would defer the Thursday shareholder meeting that was to decide on a takeover bid from Pallinghurst Resources, fell 2.9 per cent to $3.35 at end of trade on Tuesday, after receiving the $966 million counter offer from Territory.

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