P30.00 a share Bid of Manny Pangilinan to Atlas Consolidated Mining was Declined by Fred Ramos

The rumors is Alfredo C. Ramos  Chairman, President and CEO of Atlas Consolidated Mining and Development Corporation  (AT) declined the bid of  P30.00 a share of AT by Manny Pangilinan.

Atlas Consolidated Mining and Development Corporation 

was incorporated in 1935. Atlas is listed on the Philippine Stock Exchange (PSE) and was, until May 1995, listed on the American Stock Exchange (AMEX).

A major restructuring of the Company’s assets was undertaken in years 2004 and 2005 with the creation of three special purpose subsidiaries to develop the Toledo Copper Complex, Berong Nickel Project and the Toledo-Cebu Bulk Water and Reservoir Project. As a result, Carmen Copper Corporation (CCC), Berong Nickel Corporation (BNC) and AquAtlas Inc. (AI) were incorporated and, subsequently, were positioned to attract project financing as well as specialist management and operating expertise.