Cardinal Resources (ASX:CDV) share price lifts after third takeover bid

The Cardinal Resources Ltd (ASX: CDV) share price is surging higher today on news the company has received an unsolicited takeover bid. The conditional, off‐market takeover offer at $1.05 per share is from a Ghana incorporated company, and is the third takeover bid Cardinal has received this year. 

At the time of writing, the Cardinal share price has lifted higher than the actual offer price, up 5.94% to $1.07. 

What happened today

Mineral explorer Cardinal says it received a bid of $1.05 per share in the form of cash from Engineers & Planners Company Limited, a company incorporated in Ghana.

The bidder’s statement advised the offer was conditional upon 50.1% minimum acceptance by Cardinal shareholders, as well as regulatory…