Aquila’s share surge points to higher offer

Takeover target Aquila Resources’ shares have jumped above China’s bid price for the resources company.

Takeover target Aquila Resources’ shares have jumped above China’s bid price for the resources company, fuelling speculation the bid will be lifted.

State-owned Baosteel, in partnership with Australia’s Aurizon, launched a $3.40-a-share offer for Aquila on Monday in a $1.4 billion bid to secure the 80 per cent of the company it does not already own.

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