Richfield urges shareholders to take no action after takeover bid from Brierley's Mercantile

Mon, 28 Dec 2015

By Sophie Boot Dec. 29 (BusinessDesk) - Richfield International, an ASX-listed shipping firm, urged shareholders to take no action while it reviews a takeover offer from veteran corporate raider Ron Brierley's Mercantile Investment. Richfield received an unsolicited on-market takeover offer of 20 Australian cents per share from Mercantile on Dec. 23, the Perth-based company said in a statement. The shares have been unchanged at 20 Australian cents since Dec. 22, and have risen 135 percent this year. Mercantile, chaired by Brierley, has...

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