takeover bid

Asian Consortium $1 Billion Bid for Arrium


Mining and steel making company, Arrium (ASX:ARI) has received an unsolicited bid from an Asian-led consortium called Steelmakers Australia.

  • Arrium's stocks on the ASX stockmarket jumped almost 25 percent to 68 cents per share on the announcement.
  • The takeover offer was received late last Friday afternoon from the consortium.
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