Belize-based Palmary Enterprises Ltd has dealt a knock-out blow in the long-running $1.15 billion takeover battle for manganese miner Consolidated Minerals Ltd (ConsMin), by upping its offer and gaining the acceptance of rival Pallinghurst Resources Australia Ltd. After the close of trade on the Australian stock exchange on Tuesday, Palmary announced a revised bid of $5 per ConsMin share, up from $4.70 for each of the target's shares. This values ConsMin at $1.152 billion. ConsMin shares closed five cents lower to $4.83, giving it a market capitalisation of $1.113 billion. Palmary has declared its latest bid as final, although it has reserved the right to extend the closing date, which is scheduled for December 20.