The bid for Wolfden Resources (WLF-T, WLFFF-O) by Australian zinc producer Zinifex (ZFX-A, ZFEXF-O) will see an extended exclusive negotiation period, following discussions between the two companies.
At the same time Zinifex has cut its proposed offer for Wolfden by 9, to $3.81, while waiving a condition in the exclusivity agreement between the companies that Zinifex complete a due-diligence investigation on the Wolfden assets.
The amended agreement is now to go to March 19, during which Wolfden and Zinifex will be negotiating the details of a friendly offer. A bid of $3.81 values Wolfden at about $338 million.
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