Bid for PanAust fires up copper stocks

A $1.4bn bid for PanAust drives mid-tier copper stocks sharply higher.

A potential $1.4 billion-plus takeover bid for PanAust from Chinese state-owned Guangdong Rising Assets Management has triggered a mini-boom in the valuation of mid-tier copper stocks.

PanAust soared 54c, or 34 per cent, to $2.12 in response to the disclosure that GRAM -- the company’s major shareholder with a 23 per cent interest -- had initially proposed a $2.20-a-share takeover bid, then increased it to $2.30 a share.

{{content.question}}

SMS Code Sent…

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

If you didn't receive SMS code please

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa

Related Articles