BHP Billiton offers A$204 mln for United Minerals
Published: 15 Oct 2009 17:24:13 PSTSYDNEY, Oct 16 - Australian iron ore prospector United Minerals Corp <UMC.AX> has received a A$204 million conditional takeover offer from BHP Billiton <BHP.AX>, it said on Friday.
The offer is conditional on United dropping a deal to sell an 11.4 percent stake to China Railway Materials Commercial Corp Group (CRM), UMC said in a statement.
The offer is at A$1.30 a share. United Minerals shares last traded at A$0.91.
United's iron ore lode lies close to rail lines run by BHP Billiton and Rio Tinto Ltd/Plc <RIO.AX> <RIO.L>.
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