Via The West:
MinRes announced a $280 million, all-scrip bid for Atlas on Monday, which would give its shareholders one new MinRes share for every 571 Atlas shares they hold.
The offer values Atlas about 3¢-a-share, representing a 59 per cent premium to its last traded price of 1.9¢ before the offer was announced.
Atlas’ board and management have welcomed the deal and recommended shareholders accept it in the absence of a superior offer.