Genesis Minerals Makes Rival $3.9 Billion Bid to Acquire Vault Minerals
Deep News
Jul 06
Genesis Minerals has made a competing takeover offer for Australian gold miner Vault Minerals, valuing the target at $3.9 billion. This proposal is superior to Vault Minerals' previously agreed merger deal with Regis Resources.
Under the terms of the Genesis Minerals bid, shareholders in Vault Minerals would receive 0.7629 new Genesis Minerals shares for each of their shares, plus 47.5 Australian cents (equivalent to 33.0 U.S. cents) in cash.
In separate statements released on Monday, the two companies stated that the offer values Vault Minerals at approximately A$5.27 per share, representing a total consideration of A$5.6 billion.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.