Mercantile Investment Company (ASX:MVT) is making an unconditional cash offer to acquire all shares in Phosphate Australia (ASX:POZ).
Shaw Stockbroking will on behalf of Mercantile acquire on-market Phosphate Australia shares at $0.02.
Phosphate Australia has around 161.2 million shares, with Mercantile and its associates already having a relevant interest of around 14.5 million shares.
The offer is a 11.1% premium to the $0.018 closing price of Phosphate Australia on the 27th March 2015.
