Jiangxi Copper Co. of China has agreed to acquire SolGold Plc in a deal valued at over $1 billion, marking a significant move in the copper mining industry amidst growing demand for the metal.
Information on the Target
Jiangxi Copper Co. of China has reached an agreement to acquire the copper mining company SolGold Plc in a deal valued at over $1 billion. After rejecting two previous offers, SolGold accepted Jiangxi's latest cash bid of 28 pence per share for the outstanding shares, as reported by the Australian mining firm on Wednesday.
This acquisition values SolGold at approximately £867 million ($1.17 billion), including shares that may still be issued. The offer represents a 43% premium on SolGold's share price prior to the first offer made last month.
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Disclosed details
Transaction Size: $1,170M
Enterprise Value: $1,170M
Equity Value: $1,170M