In today’s briefing:
- Spartan Resources (SPR AU): Ramelius Resources (RMS AU) Attractive Offer
- Will Ramelius have competition for Spartan?
Spartan Resources (SPR AU): Ramelius Resources (RMS AU) Attractive Offer
- On 17 March, Spartan Resources (SPR AU) entered a binding scheme with Ramelius Resources (RMS AU). Spartan shareholders will receive A$0.25 cash + 0.6957 RMS shares per SPR share.
- The scheme vote is low risk as Ramelius has secured irrevocable commitments from Tembo Capital, 1832 Asset Management, and Fourth Sail Capital (18.89% of outstanding shares).
- The offer is attractive compared to peer multiples, precedent transactions and historical trading ranges. The scheme meeting is targeted for mid-July.
Will Ramelius have competition for Spartan?
- Ramelius and Spartan announce a transformational combination deal
- Deal includes 25 cents cash kicker and 0.6957 Ramelius shares for Spartan shareholders
- Top three Spartan shareholders, excluding Ramelius, support deal with combined 19% ownership stake
This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.
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