• Fortescue offers to acquire up to 100% of Red Hawk shares
• Offer price of $1.05 per share, increasing to $1.20 if Fortescue acquires 75% or more
• Red Hawk Board unanimously recommends shareholders accept the offer

Red Hawk Mining Limited (ASX:RHK) has announced that it has entered into a binding Bid Implementation Deed with FMG Pilbara Pty Ltd, a subsidiary of Fortescue Ltd (ASX:FMG), under which FMG has offered to acquire up to 100% of the shares in Red Hawk by way of an off-market takeover. The Base Offer Price is $1.05 per Red Hawk share, representing a 28% premium to the last closing price and a 29% premium to the 30-day VWAP. The Increased Offer Price of $1.20 per share represents a 46% premium to the last closing price and a 48% premium to the 30-day VWAP, and will apply if FMG obtains a relevant interest in 75% or more of Red Hawk shares within 7 days of the Offer being open for acceptances. The Red Hawk Board, on the basis of an Independent Board Committee recommendation, unanimously recommends that shareholders accept the Offer at both the Base Offer Price and, if relevant, the Increased Offer Price, in the absence of a superior proposal and subject to the Independent Expert continuing to conclude that the Offer is fair and reasonable. The Offer has minimal conditionality and is not subject to any financing or due diligence conditions.