North Limited Initiates Compulsory Acquisition of ERA Shares

An update from Energy Resources of Australia Ltd. Class A ( (AU:ERA) ) is now available.

Energy Resources of Australia Ltd (ERA) is undergoing a compulsory acquisition of its remaining ordinary shares by North Limited and Peko-Wallsend Pty Ltd, both subsidiaries of Rio Tinto Limited. North Limited has initiated this process after acquiring more than 90% of ERA’s voting power and securities value through a previous entitlement offer. The acquisition price is set at $0.002 per share, matching the price of the prior offer. An independent expert’s report, required by the Corporations Act, values the shares at a negative range, suggesting challenges in ERA’s financial valuation. This acquisition consolidates Rio Tinto’s control over ERA, potentially impacting minority shareholders and the company’s market operations.

More about Energy Resources of Australia Ltd. Class A

Technical Sentiment Signal: Buy

Current Market Cap: $621M

See more data about ERA stock on TipRanks’ Stock Analysis page.