SolGold Board Backs Jiangxi Copper’s Sweetened Takeover Bid

SolGold Plc (LSE:SOLG) - Jiangxi Copper Sweetens Its All-Cash Offer to £0.28/sh - Research Portal

SolGold has received a revised non-binding indicative cash offer from Jiangxi Copper Company Ltd (JCC; SEHK:358, Not Rated). The revised all-cash offer of £0.28/sh (£842M) represents a premium of 7.7% from its previous £0.26/sh bid that was rejected last month. JCC has won support from shareholders collectively owning 40.7% of shares, and SolGold has indicated that it would recommend its shareholders to accept the offer if JCC makes a firm offer

SolGold Board Backs Jiangxi Copper’s Sweetened Takeover Bid

The Chinese state-owned miner has won the support of SolGold’s board after making a revised bid that values U.K.-listed company at $1.13 billion