Astral Resources NL (ASX:AAR) said its off-market takeover bid to acquire all ordinary shares in Maximus Resources (ASX:MXR) is its best and final offer, according to a Monday filing with the Australian bourse.
The company will acquire shares in MXR for a consideration of one Astral share for every two Maximus' shares, and will not further increase the offer, the filing said.
The company now owns 81.67% of Maximus' shares on issue, making its shareholders eligible for rollover tax relief, the company said.
The offer will close on March 21, the company added.
Shares of Astral Resources rose 9%, while shares of Maximus Resources rose 7% in recent Monday trade.
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