Astral Resources (ASX:AAR) said it acquired a relevant interest in more than 90% of the ordinary shares in Maximus Resources (ASX:MXR) as of March 28, and it will exercise its right to compulsorily acquire the remaining shares it does not currently own, according to a Monday Australian bourse filing.
It scooped up over 75% of the Maximus shares that it offered to acquire under an off-market takeover bid, the filing noted.
Shareholders of Maximus who have not accepted Astral's offer have until Friday, April 4, to accept it. The compulsory acquisition will be on the same terms as the offer.
Astral's shares fell 3% in recent trading on Monday.
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