Anzon said on 20 March that it would offer one of its shares for every two Nexus shares. This valued each Nexus share at about A$0.645, or about 12.2% higher than its closing price on 17 March.
However, Nexus chief executive Ian Tchacos said: "Anzon's takeover bid is inadequate. This offer is unsolicited and does not recognise the significant resource potential in the company's growing portfolio of assets."
Anzon
