Flinders Mines Limited and Magnitogorsk Iron and Steel Works OJSC (MMK) have entered into an agreement regarding the acquisition of 100% of the issued shares in Flinders by MMK. Flinders has recommended that all Flinders shareholders vote in favor of the USD 538 million takeover offer. Earlier this week, Flinders asked for a trading halt of its securities, prior to an announcement regarding its wholly owned Pilbara Iron Ore Project in Western Australia.
