25/05/2009 - 15:23

Terrain mulls over Iron Mountain offer

25/05/2009 - 15:23

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West Perth-based Terrain Minerals has told shareholders to take no action on an off-market takeover bid by Iron Mountain Mining.

West Perth-based Terrain Minerals has told shareholders to take no action on an off-market takeover bid by Iron Mountain Mining.

The company today said shareholders should wait for the release of the target statement, likely to be later this week.

Earlier this year, Perth-based Iron Mountain launched a takeover bid, offering one of its shares for every two Terrain shares held.

Iron Mountain has previously said it will not make an offer for Terrain options.

Shares in Terrain closed unchanged at 5.2 cents while shares in Iron Mountain closed down 0.1 cents to 7.9c.

 

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