Business
Nordgold-Shandong bidding war for Cardinal heats up – MINING.COM – MINING.com
Nordgold says Cardinal is misleading its shareholders by suggesting that a higher offer from Shandong can be unlocked.
Cardinals board, which has openly shown its preference for the Chinese bidder, qualified Nordgolds move as an attempt to cruel the auction for control of Cardinal, which has significant potential to deprive Cardinal shareholders of additional value.
Both Shandong and Nordgold have offered A$1 per share for full control of Cardinal shares and declared this their “best and final” offer
It added its financial advisers believed Nordgold had technically made a higher competing offer after Shandong made…
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