Perseus declares OreCorp buyout bid ‘best and final’
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Perseus Mining operates three gold mines in Africa and Côte d’Ivoire. Credit: Mr. Tempter via Shutterstock.com.
Perseus Mining has announced that its off-market buyout bid for OreCorp is now unconditional and the best and final offer in the absence of any competing bid.
The offer of A$0.575 per share is now free of all conditions.
This revised proposal surpasses the initial A$0.55 cash offer, valuing the deal at approximately A$258m ($170.29m).
It presents a more attractive deal compared with Silvercorp Metals‘ A$0.53 bid in cash and shares.
OreCorp has acknowledged Perseus’s proposal as superior and, barring any amendments from Silvercorp, intends to advise its shareholders to accept it.
As of 5 April 2024, Perseus Mining has secured a 51.03% interest in OreCorp, holding 239,542,398 shares.
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This article was originally published by a www.mining-technology.com . Read the Original article here. .