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Tango bows out of Herald takeover battle

THE drawn-out takeover saga for Herald Resources has come to an end with Indonesian coal miner PT Bumi set to take control of the company after rival bidders PT Antam and Shenzhen Zhongjin Lingnan Nonfemet accepted Bumi's $A563.5 million offer.

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Tango bows out of Herald takeover battle

In a statement to the market, Antam said Tango Mining, Antam and Zhongjin's takeover vehicle for Herald, had accepted Bumi's $2.85 per share offer for Herald and would not extend its own $2.80 per share...

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