The board of Kalgoorlie-based bank Goldfields Money has knocked back a fresh takeover bid from Brisbane financial business Firstmac Holdings, which valued the company at $1.27 per share.

The increased bid comes just weeks after Firstmac launched an initial takeover offer at $1.12 per share, which was also rejected by Goldfields’ board.

The latest offer implies Goldfields is worth $28.6 million, and is about 5 per cent higher than the company’s closing price today of $1.21 per share.

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