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Forrestania Resources, Zenith Minerals Enter Amended Takeover Deed

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Forrestania Resources (ASX:FRS) entered into an amended and restated takeover deed to acquire Zenith Minerals (ASX:ZNC), updating an agreement originally struck in June, according to a Tuesday filing with the Australian bourse.

The amended agreement follows interim orders from the Takeovers Panel barring Forrestania from processing further acceptances received in relation to the off-market takeover bid.

Forrestania subsequently gave Zenith shareholders who already accepted the offer the right to withdraw their acceptance as the offer period was extended to Aug. 31. The company also engaged with the Australian Securities and Investments Commission to address concerns that the extension notice was invalid.

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