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Miner KAZ gets raised bid of 3.69 bln pounds from chairman-led Nova Resources

Feb 4 (Reuters) - Nova Resources said on Thursday it has raised its bid for copper miner KAZ Minerals Plc to 780 pence, valuing the firm at 3.69 billion pounds ($5.02 billion), after some minority shareholders rejected the earlier proposal for being too less.

KAZ Chairman Oleg Novachuk-led Nova Resources said the new offer, 140 pence higher than the previous one, has won the unanimous recommendation of UK-listed KAZ’s independent committee. ($1 = 0.7357 pounds) (Reporting by Muvija M in Bengaluru; Editing by Rashmi Aich)

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