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Anaconda Mining (TSX: ANX; US-OTC: ANXGF) has withdrawn its hostile takeover bid for Maritime Resources (TSXV: MAE; US-OTC: MRTMF) after Maritime’s recently completed, $1.5-million private placement.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