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Aussie firm rejects Aditya Birla's takeover bid

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Press Trust Of India Melbourne
Last Updated : Jan 21 2013 | 4:10 AM IST

Australia's Northern Iron has rejected a takeover bid from Aditya Birla Group citing lower valuation and would be ready to consider a better offer from the Indian conglomerate. A subsidiary of Aditya Birla Group had made an indicative and non-binding bid, offering to buy each share of the Australian entity in the price range of $1.28 - 1.35.

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First Published: May 16 2012 | 12:41 AM IST

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