Placer Dome (PDG-T) has extended for the final time the closing date of its offer for all of the shares of AurionGold.
The offer now terminates on Nov. 21.
With more than 92% of the Aussie gold miner’s shares in hand, Placer intends to crank up the compulsory acquisition of AurionGold’s shares on Nov. 20. AurionGold’s shares will be suspended from trading five days later.
Placer expects the compulsory acquisition to take about two months. Those voluntarily tendering shares to the offer will receive payment before those that do not.
Meanwhile, LionOre Mining International (LIM-T) has boosted its offer for the 20% stake it doesn’t already own in its Australian-listed subsidiary LionOre Australia (Nickel) by A2.5 to A87.5 per share.
The company also extended the offer by two weeks to Nov. 28. On extending the offer, LionOre also announced that it had acquired more than 96% of LionOre Nickel’s shares, clearing the way for the company to compulsorily acquire the remaining shares.
In late-afternoon trade in Toronto on Friday, Placer shares were up 59 to $15.68; LionOre shares were unchanged at $4.25.
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