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China’s Zhaojin Capital, a unit of gold miner Zhaojin Mining Industry, has raised its stake in its Australian takeover target Tietto Minerals to 52.8%, an exchange filing showed on Wednesday.
Tietto also urged shareholders to sell their stake in the company on-market “if the market price is not materially different to the offer price.” Zhaojin declared its bid to be unconditional on April 24, making it impossible for Tietto shareholders – who had already accepted the offer – to now withdraw their acceptance.
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