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Afferro offers takeover hope

Afferro Mining (AFF) has received an "initial approach" from Alternative Investment Market-traded International Mining & Infrastructure Corp (IMIC) to take over the iron ore junior at an indicative price between 115p and 140p a share, in an undisclosed mix of cash and shares. Afferro says the approach from IMIC is still in the very early stages and that it has yet to receive a formal offer. But, in the meantime, Afferro "continues to have discussions" with other interested bidders, including one anonymous suitor who Afferro is in exclusive talks with until 13 January.

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By Matthew Allan,
09 January 2013

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