Paladin Resources (ASX:PDN) is moving closer to the 90% relevant interest in NGM Resources (ASX:NGM), with a current 81.46% holding of NGM, but time is running out.
This week NGM directors urged shareholders to accept the offer without delay.
Above 90% of shareholdings in NGM must accept the offer by Friday 22 October, or else Paladin can effectively allow the offer to lapse.
Interestingly, there continues to be investor interest in NGM shares.
The takeover offer is at $0.15, yet in intra-day trading today NGM shares have traded as high as $0.16, on volume of 2.6 million shares, identifying some investors are anticipating a high bid.