29 Jul 2004

Mystery bidder for Fiji's Emperor Mines

10:27 am on 29 July 2004

A report from Fiji says a mysterious new rival bidder has emerged for takeover target, Emperor Mines Limited.

The Fiji Times reports that the bidder has built up a 14-point-99% stake in the miner and has advised that it wants to lift that to 20%.

The newspaper quotes Emperor's chief executive, Gregory Starr, as saying that despite requests for more detailed information, the buyer behind the new stakeholder, Amsterdam-based Arduina Holdings, remains unknown.

South Africa's Durban Roodepoort Deep has an unconditional bid for Emperor and is offering five DRD shares for every 22 Emperor shares.