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Stanmore receives $175.78m takeover bid from Golden Investments

Nov 20, 2018 - Marketline Newswire

Stanmore Coal has received an off-market takeover offer from Golden Investments (Australia), a joint venture company owned by Golden Energy and Resources (GEAR) and Ascend Global Investment Fund.

Under the terms of the offer, Golden Investments intends to acquire up to 100% of Stanmore Coal in return for $0.95 in cash per share.The bid values Stanmore at around A$240m ($175.78m) and offers the company a premium of a 14.5% over the company's 5-day Volume Weighted Average Price.In view of th...