Indonesia's Bumi takes majority stake in Herald

SYDNEY, July 17 (Reuters) - Indonesia's PT Bumi Resources (BUMI.JK) has acquired a majority stake in Australian-listed Herald Resources Ltd (HER.AX), after Herald's board recommended Bumi's improved A$563 million ($547 million) bid.

Bumi raised its voting stake in Herald to 51.34 percent, from 19.94 percent previously, according to a substantial shareholder notice filed to the Australian Stock Exchange on Thursday.

Herald directors unanimously recommended Bumi's unconditional bid to shareholders, the company said in a statement this week, after Bumi's A$2.85-a-share bid trumped a A$2.80 bid from a rival group comprising Indonesia's PT Aneka Tambang Tbk (ANTM.JK) and China's Shenzhen Zhongjin Lingnan Nonfemet Co Ltd 000060.SZ.

The rival group said on Tuesday it would not extend its offer and instead would sell the shares it holds in Herald to Bumi. ($1=A$1.03) (Reporting by James Thornhill, editing by Mark Bendeich)