Bloomberg reported that China Guangdong Nuclear Power Group Coopany may bid again for Kalahari Minerals Plc triggering an acquisition of uranium explorer Extract Resources Limited after withdrawing an offer in May.

Mr Simon Tonkin senior resources analyst of Patersons Securities Limited said that “The Chinese will be back. It’s likely.”

The London based resource company said recently that the UK Takeover Panel barred state owned China Guangdong from lowering a March proposal of 290 pence a share that valued Kalahari at USD 1.2 billion. Both companies had approached the panel with a price cut to 270 pence a share, after Japan’s nuclear crisis slashed the value of Kalahari’s 43% holding in Sydney listed Extract.

Mr Tonkin said that China Guangdong can make a fresh bid from three months after the previous acquisition offer was denied under the UK rules. A new offer for Kalahari may be about 250 pence a share.

(Sourced from Bloomberg.net)