Deals
Noble Group Offer for Territory Resources Betters Exxaro Bid
This article is for subscribers only.
Noble Group Ltd., the Hong Kong-based commodity trader, offered A$90 million ($95 million) for the shares in Territory Resources Ltd. it doesn’t own, outbidding a deal agreed to with Exxaro Resources Ltd.
Noble, Territory’s largest investor with a 32 percent stake, offered 50 cents for each share, Perth-based Territory said in a filing. That’s 8.7 percent more than Exxaro’s offer and a 6.4 percent premium over yesterday’s close.