New Offer At 19.5c a share
Belgium’s Nyrstar, the world’s largest zinc miner, has made an offer of 19.5c a share for Australian zinc miner, CBH Resources. Nyrstar has also offered $1000 per CBH convertible loan note.
CBH had previously recommended a joint venture deal and bid for part of the company from its largest shareholder Japan's Toho Zinc.
The Nyrstar proposal is subject to limited due diligence, which has now commenced, and on shareholders not approving the Toho deal at a meeting on April 28.
Last month CBH recommended shareholders accept a proposal to sell stock and bonds to Toho over a previous Nyrstar bid worth A$213 million.
CBH shares ended the day at 18.5c.
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