Cliffs questions Noront bid credibility in chromite bidding war

Dec 07, 2009 | 09:29 AM | Kevin Foster

Cliffs Natural Resources Inc. on Monday questioned the credibility of its rival in a bidding war for Freewest Resources Canada Inc. as it pushed for Freewest shareholders to back its Canadian $211-million ($201-million) friendly takeover offer.

Noront Resources Ltd., Toronto, which has made a competing offer for Freewest, has made "false and misleading" statements in support of an "increasingly desperate" takeover bid, Cleveland-based Cliffs said in a statement.....

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