PanAust engaged with rejected suitor; providing data to other parties-CEO
SYDNEY, April 15 (Reuters) - Australia miner PanAust Ltd was providing information to an undisclosed number of potential suitors, the company's chief executive said, after PanAust rejected an $844 million bid from its top shareholder, Guangdong Rising Assets Management (GRAM) of China.
"The (GRAM) offer has basically triggered a flurry of interest," Chief Executive Fred Hess told Reuters in a telephone interview
"We have had a number of inbound inquiries about essentially the company and also specifically development prospects," Hess said, adding Panaust remained "engaged" with GRAM. (Reporting by James Regan)
© Thomson Reuters 2016 All rights reserved.