METS

Shares surge on Resource Equipment merger offer

SHARES in mining pump company Resource Equipment (REL) soared more than 85% after its board unanimously endorsed a proposed acquisition of the company through a cash offer by US-based Pump Services.

Jack McGinn

Shares surge on Resource Equipment merger offer

Shareholders in the company have been made a cash offer of A26c per share through an unconditional on-market takeover bid by Pump. The offer represents an 86% premium to REL’s most recent ASX closing...

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