Cliffs Natural Resources sweetens takeover offer for Freewest
Dec 03, 2009 | 05:47 AM
| Tom Jennemann
Cliffs Natural Resources Inc. has raised its friendly takeover offer for Freewest Resources Canada Inc. in an effort to beat a rival offer from Noront Resources Ltd.
Cliffs' new all-stock offer values each Freewest share at Canadian 90 cents (85 cents) per share and the entire company at about C$211 million ($200 million). The bid is 40 percent higher than last week's offer of C$150.6 million, or C70 cents....
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