Interloper Kinterra has increased its takeover offer leading target New World Resources (ASX:NWC) to determine it may reasonably expect it to lead to a superior proposal compared to Central Asia Metals’ (LSE:CAML).
Kinterra Capital in its capacity as general partner of the Kinterra Critical Materials & Infrastructure Opportunities Fund II, has increased its takeover offer price to $0.066 per share, or $0.067 per share if Kinterra’s relevant interest in New World exceeds 30% by 5pm (AEST) on 24 July 2025.
Central Asia is offering $0.065 per share. New World on 17 July issued a notice to Central Asia Metals under the matching rights regime, which gives it five business days to match the new Kinterra offer.
New World advises shareholders to take no action in relation to the latest Kinterra takeover offer until further advice.
New World on 8 July entered into two deed agreements with Central Asia, revising the original transaction to replace a scheme of arrangement with a board recommended off-market takeover bid, as reported by this news service.
Under the offer at the time, shareholders were to receive a cash consideration of $0.062 per New World share.
As reported, BMO Capital Markets is acting as exclusive financial advisor, Mayer Brown as UK and US legal advisor, and Clayton Utz is acting as Australian legal advisor to Central Asia Metals.
Write to Adam Orlando at Mining.com.au
Images: New World
