Business
Ganfeng Lithium grabs Bacanora in $246.5m deal – MINING.COM – MINING.com
Ganfeng, which in February rose its stake in Bacanora to 28.88% from 17.41%, will acquire the remaining shares at 67.5 pence each.
Ganfeng, which in February announced it was rising its stake in Bacanora to 28.88% from 17.41%, will acquire the remaining shares at 67.5 pence each. The unofficial offer represents a nearly 50% premium on Bacanora’s Wednesday’s close.
The increase in Ganfeng’s stake to 28.88% is expected to complete shortly, the companies said in the statement.
Bacanoras independent directors said the offer was attractive, adding they plan to recommend it once it becomes a formal proposal, which requires approval…
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