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Anaconda withdraws takeover bid for Maritime


Anaconda Mining (TSX: ANX; US-OTC: ANXGF) has withdrawn its hostile takeover bid for Maritime Resources (TSXV: MAE; US-OTC: MRTMF) after Maritime’s recently completed, $1.5-million private placement. It ends Anaconda’s five-month-long pursuit of Maritime.

Anaconda launched its hostile bid in April. It says it was unable to engage Maritime management on friendly terms after submitting a takeover proposal in January.

Maritime countered, saying it was “disappointed with Anaconda’s tactics” and had “expressed consistent willingness to consider Anaconda’s unsolicited approach.”

Continue reading at The Northern Miner.