Board gives nod despite bitter opposition.

Australasian Business Intelligence, April, 2003

Apr 07, 2003 (The Australian Financial Review - ABIX via COMTEX)

Xstrata's bid for Australian miner, MIM, will be blocked if more than 25 of MIM's shareholders reject it. A MIM shareholders' meeting will be held in early June 2003 to vote on the ownership change. Gary Armor, the resources portfolio manager at AMP Henderson Global Investors, said on 7 April 2003 the offer price of $A1.72 per MIM share fails to take account of the many growth opportunities the coal and metals target has in train. BT Financial Group's Tim Barker has similar reservations. However, MIM's chairman, Leo Tutt, says that in the absence of other bids for the entire MIM package, his board will urge acceptance.

Publication Date: 8 April 2003

MIM HOLDINGS LIMITED - ASX...

            
        
    
    	    
                
                
	

		

					 
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