DJ Herald Resources Recommends Revised Calipso Offer MELBOURNE (Dow Jones)--Base metals developer Herald Resources Ltd. (HER.AU) has Thursday recommended its shareholders accept the latest A$563.5 million takeover offer from PT Bumi Resources' (BUMI.JK) Calipso vehicle.
Herald directors are now recommending Bumi's A$2.85 a share offer and have withdrawn their recommendation shareholders accept a rival offer of A$2.80 a share from the Tango consortium, made up of Indonesia's PT Aneka Tambang (ANTM.JK) and China's Shenzhen Zhongjin Lingnan Nonfemet Co. (000060.SZ). Shares in the Perth-based company continue to trade above either offer, ending unchanged at A$2.89 in an Australian market down 1.9%, and Herald said shareholders who wish to realize their investment in the short term may consider selling on market.
