Fenix Extends CZR Takeover Offer Period

Fenix Resources Ltd (ASX: FEX) has announced an extension to its off-market takeover bid for CZR Resources Ltd (ASX: CZR). The offer, initially detailed in the bidder’s statement dated February 25, 2025, and supplemented on March 28, 2025, will now close at 7:00 pm (AEST) on April 22, 2025, a seven-day extension from the original closing date. This extension allows CZR shareholders additional time to consider the offer. Fenix Resources has also updated the date for announcing the status of the offer’s conditions to April 15, 2025. As of this announcement on April 7, 2025, Fenix confirms that the offer remains subject to the conditions outlined in section 10.8 of the original bidder’s statement. This notice, approved by the Fenix Resources board, has been lodged with ASIC. The takeover bid aims to acquire all ordinary shares of CZR Resources Ltd. The decision to extend the offer period suggests Fenix’s continued interest in acquiring CZR, potentially due to shareholder response or the need for further due diligence. Market participants will be closely watching the announcement on April 15 to ascertain whether the conditions attached to the offer have been met or waived, which will significantly impact the likelihood of the takeover’s success.