Michael Bailey made an offer to acquire remaining stake in Nautilus Minerals Inc. from sellers and other shareholders for approximately CAD 240 million in cash on January 7, 2013. OAO Holding Company METALLOINVEST holds 21%, Anglo American plc (LSE:AAL), holds 11%, MB Resources LLC holds 16.9% and Teck Resources Limited (TSX:TCK.B) holds 4.5% in Nautilus Minerals. Under the terms of the tender offer, the family office controlled solely by Michael Bailey will commence ... a hostile all cash bid to purchase all the outstanding shares of Nautilus Minerals Ltd. for CAD 0.97 per share. The tender offer is scheduled to expire on March 1, 2013, unless the tender offer is extended. Robbert Gooden the former Chief Scientific Advisor to Nautilus minerals has joined Michael Bailey and his family office solely controlled by him in the commencement of a tender offer. The transaction, subject to regulatory approval, election of Michael Bailey's nominees to the Nautilus board and other customary closing conditions is expected to close by March 2013. As on January 11, 2013, Michael Bailey increases the offer price to CAD 1.1 per share for all outstanding shares of Nautilus Minerals Inc. for a total purchase price of approximately CAD 270 million. Alastair Stratton/Stuart Skinner and James Black of Numis Securities Limited acted as the financial advisor for Nautilus Minerals Inc. Christopher R. Weekes of Dahlman Rose & Co., LLC acted as the finacial advisor for Nautilus Minerals Inc. Bacchus Law Group acted as the legal advisor for Michael Bailey. Gannibal Securities has been engaged to act as advisor in this Michael Bailey.
Read More

Sponsored Financial Commentaries

To contact NAUTILUS MINERALS INC, please visit . Company data is provided by Capital IQ. Please use this form to report any data issues.

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.