Noront Resources drops hostile takeover bid for Freewest
Dec 14, 2009 | 06:45 AM
| Tom Jennemann
After several weeks of increasingly bitter rhetoric, Noront Resources Ltd. announced that it has failed to gather enough shareholder support for its hostile takeover bid for chromite explorer Freewest Resources Canada Inc.
Toronto-based Noront said that only 11.8 million, or 4.5 percent, of Freewest's outstanding shares had been tendered to its offer, which expired Dec. 11.....
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