OASIS FORUM Post by the Golden Rule. GoldTent Oasis is not responsible for content or accuracy of posts. DYODD.

Pay More

Posted by ipso facto @ 10:26 on May 20, 2020  

Silvercorp amends Guyana merger terms with improved offer

Silvercorp Metals (TSX: SVM) and Guyana Goldfields (TSX: GUY) have agreed to amend the terms of their merger arrangement, which would see Silvercorp making a significantly higher offer than the previously announced C$105 million deal.

The parties came to a new agreement following receipt by Guyana Goldfields of an unsolicited all-cash proposal from a third party to acquire the company. Last week, Guyana Goldfields rejected an all-stock offer from Gran Colombia Gold (TSX: GCM) as it was keen on pursuing a merger with Silvercorp.

Under the new terms, Guyana Goldfields shareholders will now receive, for each share held, C$0.25 in cash and 0.1849 of a Silvercorp common share for total consideration of C$1.30 per share. The improved offer would value Guyana Goldfields at approximately C$227 million.

Silvercorp amends Guyana merger terms with improved offer

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.

Go to Top

Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.