Severstal extends offer for Celtic Resources to Dec 7; has 45.6 pct acceptances |
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Published
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Mon, 19 Nov 2007 10:07
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LONDON (Thomson Financial) - OAO Severstal said its Centroferve Ltd subsidiary has extended its revised offer for Celtic Resources Holdings to Dec 7.The company said as of Nov 16 Centroferve had received acceptances representing about 15.9 pct of Celtic.Its Bluecone Ltd unit holds 29.7 pct of Celtic, and has given an irrevocable undertaking to Centroferve to accept or procure acceptance of the offer in respect of those shares.On Nov 9, Severstal had agreed to acquire Celtic Resources, through Centroferve, for a minimum 280 pence per share in cash. Celtic had previously rejected Severstal's initial offer of 220 pence a share and a revised offer pitched at 270 pence a share.tfn.newsdesk@thomson.comndi/bsu/jfrCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Severstal says agreed takeover of Celtic Resources for minimum 280p/shr 