Diatreme Resources (ASX:DRX) will compulsorily acquire Metallica Minerals (ASX:MLM) after notifying the Australian Securities and Investments Commission (ASIC), according to a Monday filing to the Australian Securities Exchange.
Diatreme Resources had extended its off-market takeover offer for Metallica Minerals to Aug. 6 after it increased its interest to 87%. It said it would compulsorily acquire Metallica's remaining shares once its stake reaches 90%.
Diatreme Resources shares rose 1.8% in recent trade.
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