M&A

Sinosteel set to win Midwest after board approves new offer

THE board of Midwest Corporation has accepted an updated takeover bid from Chinese company Sinosteel worth $6.38 per Midwest share, despite earlier saying any offer below $7 undervalued the company.

MiningNews.Net
Sinosteel set to win Midwest after board approves new offer

In the absence of a higher offer, Midwest's board of directors unanimously accepted the bid, which is 13.9% higher than Sinosteel's previous offer of $5.60. The increased offer will come into play only...

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