Metals miner Metals X has waived the 90% acceptance condition in its takeover offer for fellow-listed Aditya Birla.
Metals X initially offered one of its own shares for every five Aditya shares, valuing the takeover target’s shares at 24.7c each. However, in December, Metals X increased its offer to one of its own shares for every 4.75 Aditya shares held, with the company also waiving a number of conditions of the offer.
