Russian billionaire Alexey Mordashov, who started what became a three-way takeover battle for an Australian goldmining company, has exited with a handy profit. ADVERTISEMENTThe latest twists in the fight for Cardinal started early today when Mordashov’s goldmining company, Nordgold, said it would not match the latest offer from China’s Shandong Mining. Alexey Mordashov takes a handy profit off the table as he exits the race for Australian goldmining ... [+] company, Cardinal Resources. Nordgold, Shandong and Engineers & Planners, but that changed in less than an hour. That was followed Nordgold accepting the Shandong bid, saying in a statement that the offer was “beyond that which Nordgold feels able to justify”.

Source: Forbes December 24, 2020 05:10 UTC