Patronus Resources Launches Unsolicited Bid for Matsa Resources; Matsa Shares Climb 12%

MT Newswires Live

Feb 10, 2025

Patronus Resources (ASX:PTN) launched an unsolicited on-market takeover bid for Matsa Resources (ASX:MAT) at a price of AU$0.045 per share in cash, according to a Monday filing with the Australian bourse.

Broker Euroz Hartleys is making the offer available to Matsa Resources shareholders until March 24, unless extended or withdrawn.

Patronus Resources currently owns 2.79% of all Matsa Resources shares on issue. The company and its associates have a 19.57% interest in Matsa Resources combined.

In a separate filing, Matsa Resources told shareholders to take no action while the directors assess the offer. A target statement is expected to be released in the coming weeks, per the filing.

Matsa Resources' shares climbed nearly 12% in recent Monday trade.

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The company and its associates have a 19.57% interest in Matsa Resources combined.</p><p>In a separate filing, Matsa Resources told shareholders to take no action while the directors assess the offer. A target statement is expected to be released in the coming weeks, per the filing.</p><p>Matsa Resources' shares climbed nearly 12% in recent Monday trade.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MAT.AU","symbol_name":"MATSA RESOURCES LTD","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2510090980","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2510090980","pubTimestamp":1739159965,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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