July 14, 2017 / 3:01 AM / in a month

BUZZ-Australia's Cobalt One drops to 2-wk low on proposed takeover offer from First Cobalt

** Iron ore explorer Cobalt One Ltd falls as much as 8 pct to A$0.115, its lowest since June 29

** Co enters binding scheme implementation deed with Canada's First Cobalt; proposed that First Cobalt will acquire all shares in Cobalt One

** Cobalt One shareholders to receive 0.145 common shares in first cobalt per ordinary share; Board recommends shareholders vote in favour of scheme

** Stock posts biggest intraday drop in nearly one month (ambar.warrick.thomsonreuters.com@reuters.net)

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