Loading ...Dalradian Resources Stock Surges On C$537 Mln Deal To Be Bought By Orion Mine
6/21/2018 5:25 AM ET
Shares of Dalradian Resources Inc. (DNA.TO) (DALR.L) were gaining around 52 percent in the morning trading in London after the company agreed to be bought by Orion Mine Finance in approximately C$537 million deal.
Under the deal terms, each Dalradian shareholder will receive cash consideration of C$1.47 for each Dalradian Share held.
Under the terms of the Arrangement Agreement, the Dalradian Shares held by certain members of the Dalradian senior management team, Sean Roosen and Osisko Gold Royalties Ltd, will not be acquired by Orion. Collectively, Orion and the Remaining Shareholders currently hold 72,695,911 Dalradian Shares or 20.4% of the issued and outstanding Dalradian Shares. Each of them have agreed to continue to hold Dalradian Shares and also to vote in favor of the deal.