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DMC Mining receives unsolicited new offer

DMC Mining (ASX: DMM) has received another offer from a third party interested in making an off-market bid for the shares in DMC.

The notification of interest is separate from, and in addition to, the unsolicited takeover offer of A$0.40 per DMC share announced by Cape Lambert Resources (ASX: CFE) on 23 March 2010.

The notification of interest is unsolicited and in the form of a confidential and conditional, non-binding proposal. It is not yet complete and is not capable of acceptance in its current form.

The company said the offer is at a price that is superior to the Cape Lambert Offer and could potentially lead to a transaction that returns more value to shareholders than the Cape Lambert Offer.

The directors intend to enter into further discussions and negotiations with the party that has provided the Notification of Interest. However, there is no certainty that these discussions will lead to a competing transaction.

Disclosure: The author holds no positions in the company