Hancock Prospecting Pty Ltd launched an off-market takeover bid for Atlas through its wholly-owned subsidiary Redstone Corporation Pty Ltd in June 2018. After securing over 90% of the voting power in Atlas, Redstone initiated a compulsory acquisition process for the remaining shares. Compulsory acquisition was completed on 20 December 2018. Former shareholders are now entitled to claim consideration of 4.6 cents for each share that was compulsorily acquired.
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