Australia's Peak Rare Earths hits 2-year high on higher takeover offer

Peak Rare Earths

05/09/2025 01:36

** Shares of Peak Rare Earths PEK.AX rise as much as 26.9% to A$0.425, their highest level since August 28, 2023

** The rare-earths explorer set for best day since May 15, if gains hold

** Chinese rare-earths producer Shenghe Resources 600392.SS hikes scheme consideration to A$0.443 per peak share from A$0.359 under its revised takeover offer for co

** New offers values Peak at A$195 million ($126.71 million); Shenghe says offer best and final

** Stock up nearly ~300%, this year, including the day's move

($1 = 1.5389 Australian dollars)

 (Reporting by John Biju in Bengaluru)

 ((John.Biju@thomsonreuters.com;))