CZR Resources (ASX:CZR) recommended its shareholders to accept the increased offer consideration of 0.98 Fenix Resouces (ASX:FEX) shares for every CZR share held at an implied value of AU$0.30 per share, according to a Wednesday Australian bourse filing.
Fenix must obtain a 75% relevant interest in the company's shares on or before Friday, the filing added.
The offer is currently scheduled to close on April 8, unless extended.
The companies' shares each dropped nearly 2% in recent Wednesday trade.
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