Private equity firm Denham Capital Management has made an offer for mining concern Polo Resources, listed on London’s Alternative Investment Market. Polo described the bid as highly conditional and claimed it significantly undervalued the company’s assets. Polo owns 29.8% of GCM Resources, proponents of the Phulbari coal mine project in Bangladesh.
Polo Resources says private equity offer "significantly undervalues" assets
Jan 30, 2009 | News