Hancock Prospecting Pty Ltd owned Redstone Corporation has increased the offer price for Atlas Iron Limited (ASX: AGO) to 4.45 cents per share, given the sharing power of Redstone increases to 87% or more during the offer period. Earlier the offer price stood at 4.2 cents. If Atlas gives its nod on the new offer, Redstone would pay additional 0.25 cents per share to the shareholders who were in favor of the Hancock offer before the offer price was revised upwards. However, the Offer Price would remain the same, if Atlas does not agree to the voting power condition.
The Hancock offer is open till 5p.m. (Perth time) on 21 September 2018. In its report filed with ASX on 16 July 2018, Atlas stated that the offer by Hancock is fair and reasonable to the Atlas shareholders. Redstone has been ramping up its voting power in Atlas for quite some time now and according to the official statement, currently it stands at 76.43%. According to the filing with ASX, Hancock held 75.4% voting power in Atlas Iron. Â Redstone has also offered the Atlas the funds to repay the Term Loan B facility or will step-in to the Term Loan B facility. However, the bidder refrained from disclosing the terms of such funding to Atlas and therefore it should be taken with a pinch of salt right now.Â Â [optin-monster-shortcode id="wxhmli4jjedneglg1trq"]
Redstone has also issued the instructions for the shareholders who want to accept the offer. The company has stated that the acceptances must be received by 21 September 2018, subject to any further extension. Redstone also mentioned that the Atlas shareholders who accept the offer would be paid within seven days of their acceptance.
The Income available from dividends remains attractive for many investors.
We take a look at the best yields on the market and assess what they say about a companyâs prospect.
One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkineâs team of analysts bought you handpicked report for âTop 25 Dividend Stocks For 2018.â
ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.
Click here to get your free report.
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people.Â Kalkinemedia.comÂ and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.