The board of Atlas Iron has wasted no time in recommending shareholders take Gina Rinehart's money in the form of $390 million takeover offer for the junior iron ore miner.
Atlas announced on Thursday that a majority of the board considered the Rinehart-backed offer superior to a $280 million all-scrip offer from Chris Ellison's Mineral Resources lodged in April.
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Brad Thompson writes across business and politics from Western Australia for The Australian Financial Review. Brad is based in our Perth bureau. Connect with Brad on Twitter. Email Brad at brad.thompson@afr.com
