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Jiangxi Copper has announced it will pay 28 pence for each SolGold share. The overall worth of SolGold is assessed at £867 million ($1.17 billion).
This price reflects a nearly 43% premium over SolGold's closing price on the London Stock Exchange on November 19, the day Jiangxi Copper submitted its initial proposal.
SolGold's primary shareholders are BHP (10.3%), Newmont Corp. (10.3%), and Maxit Capital LP (5.1%), all of whom backed the agreement with the Chinese firm. Jiangxi Copper currently holds a 12.2% share in SolGold.
The board of directors at SolGold unanimously advised shareholders to accept the proposal from Jiangxi Copper.
source: reuters.com
This price reflects a nearly 43% premium over SolGold's closing price on the London Stock Exchange on November 19, the day Jiangxi Copper submitted its initial proposal.
SolGold's primary shareholders are BHP (10.3%), Newmont Corp. (10.3%), and Maxit Capital LP (5.1%), all of whom backed the agreement with the Chinese firm. Jiangxi Copper currently holds a 12.2% share in SolGold.
The board of directors at SolGold unanimously advised shareholders to accept the proposal from Jiangxi Copper.
source: reuters.com
