PERTH (miningweekly.com) – Gold miner Ramelius Resources’ interest in takeover target Breaker Resources has now reached 73.09%.
Under the terms of the all-scrip off-market takeover offer, Breaker shareholders will receive one Ramelius share for every 2.82 Breaker shares held, valuing the offer price at 40c a share, representing a 41% premium to Breaker’s three-day volume weighted average share price (VWAP), and a 41.5% premium to the company’s 30-day VWAP.
Ramelius has urged the remaining Breaker shareholders to accept the offer, which has been unanimously recommended by the Breaker board.
The offer is set to close on May 15, unless extended.