Nautilus receives $241.1M unsolicited takeover offer

Jan 09, 2013 | 05:22 PM | Samuel Frizell

Tags  Nautilus Minerals, Michael Bailey, takeover bid, deep-dea miner, Gannibal Securities, copper, zinc, silver gold

NEW YORK — Canadian deep-sea miner Nautilus Minerals Inc. has received an unsolicited takeover bid, the company said Tuesday.

Michael Bailey, an Ottawa-based trader, has offered to purchase all of the company’s outstanding shares at Canadian 97 cents (98.2 cents) each, valuing the deal at C$237.99 million ($241.1 million), according to Gannibal Securities, Bailey’s advisor.....

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