Inca Minerals (ASX:ICG) has reached the minimum acceptance condition in its off-market takeover bid for Stunalara Metals, declaring the offer unconditional.
In early February, Inca entered into a binding bid implementation agreement to acquire the public unlisted Australian exploration company, as reported by Mining.com.au.
Steinepreis Paganin is acting as legal advisor to Inca. EMK Lawyers is acting as legal advisor to Stunalara.
As of yesterday (26 March), Inca received acceptances representing 93.66% of the voting power in Stunalara, on a fully diluted basis.
The offer was subject to standard conditions including that at or before the end of the offer period, Inca obtained a relevant at least a 90% interest in the target on a fully diluted basis.
The offer closes on 4 April 2025.
Write to Adam Orlando at Mining.com.au
Images: Inca
