Eramet SA (ERMT.PA)
16 Aug 2018
Wed, Jul 25 2018
PARIS, July 24 A sharp rise in manganese ore and nickel prices helped Eramet post higher profits in the first half of the year but the French metal and mining group warned on Tuesday that current favourable markets could be hurt by global trade tensions.
Australia's Mineral Deposits on Tuesday recommended shareholders accept a revised takeover offer from Eramet , noting that the French company had built up a stake that made it the largest shareholder in the mineral sands producer.
MELBOURNE Mineral sands producer Mineral Deposits on Thursday advised its shareholders to reject an increased A$345 million ($261 million) takeover bid from French miner Eramet SA, saying it still undervalued the company.
* Mineral Deposits shares close at offer price of A$1.75 (Adds Eramet, major shareholder comments)
France's ERAMET on Wednesday increased its all-cash offer for Australia's Mineral Deposits Ltd to A$1.75 a share, valuing the company at A$344.7 million ($261 million).
April 27 France's ERAMET said on Friday it will make an all-cash takeover bid for Australia's Mineral Deposits Ltd at A$1.46 a share, valuing the company at about A$288 million ($218 million).
* Eramet Chief Executive Christel Bories said on Tuesday that the French mining group is looking to expand in minerals like cobalt, lithium and nickel salts linked to energy transition markets like electric vehicles.
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