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Update: Takeovers Panel Says Forrestania's Bid for Zenith Should Not End Before Determination of Proceedings

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(Update to add details about Forrestania's extension of the offer period in the fourth paragraph)

Forrestania Resources (ASX:FRS) was ordered by the Takeovers Panel to ensure that the offer period under its takeover bid for Zenith Minerals (ASX:ZNC) does not end before the determination of the proceedings before the Panel, according to a Monday Australian bourse filing.

The panel said the new interim orders replace those dated Aug. 30, requiring Forrestania to extend its takeover bid to a fixed date.

The interim orders have effect until the earliest of a further panel order, determination of the proceedings, or two months from the date of the interim orders, the filing added.

The board of Forrestania extended the period during which its offer, under an off-market takeover bid for all of the fully paid ordinary shares in Zenith, will remain open for acceptance until Sept. 21.

Forrestania's shares fell 2% in recent trading on Monday.

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