Silvercorp Announces Its Off-Market Takeover Bid For All Of The Ordinary Shares In OreCorp Limited Will Now Close On March 22, 2024
Portfolio Pulse from Benzinga Newsdesk
Silvercorp Metals Inc. has extended its off-market takeover bid for all ordinary shares of OreCorp Limited to March 22, 2024. The offer competes with Perseus Mining Limited's bid, which faces delays in obtaining necessary merger control approval from the Fair Competition Commission of Tanzania. Silvercorp's offer includes a condition waiver that Perseus has not matched, potentially making Silvercorp's bid more attractive to OreCorp shareholders.
March 01, 2024 | 5:52 pm
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Silvercorp Metals Inc. extends its takeover bid for OreCorp to March 22, 2024, potentially making its offer more attractive compared to Perseus Mining's bid.
The extension of the takeover bid and the inclusion of a condition waiver could make Silvercorp's offer more appealing to OreCorp shareholders, potentially increasing the likelihood of a successful acquisition. This strategic move could positively impact Silvercorp's stock price in the short term as it demonstrates the company's commitment to the acquisition and its potential to outmaneuver Perseus Mining's competing bid.
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