Suitor says support is growing

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Argus claims that "extensive consultations" with shareholders showed many understood the logic of combining the two companies.

"The combination would be without comparison in the natural resources industry and would position the combined company to meet the demands of customers," Argus said.

"The board is satisfied that the offer we have made is both compelling and responsible and, very importantly, is value-enhancing. We have been patient and disciplined to date and will continue to be so."