Landbridge made the offer through its Australian subsidiary, Brisbane-based Westside which it acquired in a A$178 million takeover last year.
It is offering Armour shareholders A$0.12 for each share they hold which represents a 76% premium to the company's closing share price of A$0.068 on Friday.
"The proposal to purchase all of Armour's shares for cash is clearly compelling and offers a significant premium to the share price performance over the last 12 months,” Westside chief executive Mike Hughes said.
“Armour
