New Century, which has been producing zinc from tailings or
waste, is an attractive takeover target as Sibanye-Stillwater
has been expanding into recycling and waste management.
($1 = 1.5184 Australian dollars)
(Reporting by Upasana Singh in Bengaluru; Editing by Krishna
Chandra Eluri and Shinjini Ganguli)
(Adds details on deal, background)
March 8 (Reuters) - Australian zinc miner New Century
Resources on Wednesday recommended its shareholders
accept South African precious metals producer
Sibanye-Stillwater's takeover offer of A$144.1 million
($94.90 million).
Sibanye-Stillwater, the biggest shareholder in New Century
with an up to 73.41% stake, last month launched an unsolicited
takeover bid of A$1.10 cash per share.
New Century said it recommends it shareholders accept the
Sibanye offer in the absence of a competing proposal.
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