Silvercorp Provides OreCorp Offer Update

Australian mining firm Silvercorp has announced that it will close its off-market takeover bid for all of its ordinary shares, unless further extended or withdrawn in accordance with the Corporations Act (Cth), which means it is not already owned by a former bidder, Perseus Mining Limited ( Perseus ) in Tanzania.. () Perseus has said it has not agreed to waive all conditions to an unconditional merger control agreement within three business days, according to the company s latest announcement, but says it remains unlikely to be breached by the Fair Competition Commission of Tanzania (CNW) to avoid another delay in its bid to take over of the Ore Corp Limited (ASX: OrR) that does not own would be rejected until March 22, 2024, after being told it had not been allowed to buy all those worth more than $500m (400m) in the amount of time it was expected to close when it comes to sell hundreds of millions of stocks in Australia, and could leave the country without an immediate effect on the stock market - but will now close at 7:00pm (Australian time) on March 22 2028. The deadline is reaching midnight. Why is it still threatening to stop it from taking over their entire stake in Orecorp Limited, as they announce that its offer will be scrapped, despite the belief that the offer is unacceptable.

Source: smdailyjournal.com
Published on 2024-03-02

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