Mineral Resources moves to compulsory acquisition of Norwest

Mineral Resources Ltd., Perth, has acquired an interest in 94% of the shares of its takeover target Norwest Energy NL, Perth.

Accordingly, MinRes is exercising its right to compulsorily acquire the remaining Norwest shares it does not own.

The acquisition terms will be one MinRes share for every 1,300 Norwest shares—the same terms as the takeover offer.

The takeover is expected to be complete within 5-6 weeks.