TERRITORY Resources Ltd has secured control of takeover target and mineral sands producer, Olympia Resources, by lifting its stake to 55.3 per cent. The increase followed Olympia’s rejection of Territory’s $15.5 million takeover bid last month. Territory’s offer of 10 cents per Olympia share, based on its share price of 6.8 cents, was rejected by Olympia based on a valuation by independent expert BDO, which assessed the preferred value of shares in a range from 21 cents to 25 cents.
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