Reported Earlier, Silvercorp Fails To Meet 50.1% Acceptance For Orecorp, Declines To Match Competing Offer
Portfolio Pulse from Benzinga Newsdesk
Silvercorp Metals Inc. did not achieve the required 50.1% acceptance for its bid to acquire Orecorp and has decided not to match a competing offer. However, Silvercorp will still be entitled to a break fee of about AUD$2.8 million under certain conditions outlined in the BID.
March 26, 2024 | 6:45 am
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NEGATIVE IMPACT
Silvercorp's failure to meet the acceptance threshold for acquiring Orecorp and decision not to pursue further could impact investor sentiment.
Silvercorp's inability to secure the required acceptance for the acquisition of Orecorp and its decision not to match a competing offer may be viewed negatively by investors, potentially leading to a short-term decrease in stock price. However, the entitlement to a break fee mitigates the financial impact slightly.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90