KEY POINTS:
Summit Resources has recommended its shareholders accept a sweetened A$1.18 billion ($1.34 billion) all-share takeover offer by Paladin Resources, citing concern over the future of uranium mining in Australia.
Alan Eggers, managing director of Summit, which had earlier rejected a lower script bid from Paladin, said the benefits of accepting a new offer of one Paladin share for every 1.67 Summit shares outweighed risks of turning down the offer.
- AGENCIES
