Jaguar (Buyout)Just in case anyone on this board missed this
Last week, Chalice Gold (TSX:CXN,ASX:CHN) agreed in principal to an offer totaling as much as $100-million for its 60 percent interest in the Zara gold project in Eritrea. In November, Shandong Gold Group Co. (SHA:600547) launched an unsolicited offer for Jaguar Mining Inc. (TSX:JAG,NYSE:JAG) valued at $785 million.
Jaguar Mining said on Wednesday it has signed confidentiality agreements with several interested parties as the company engaging in a strategic review process to explore alternative merger opportunities. The committee guiding the company’s strategic review will be led by Gil Clausen and include the gold mining industry expertise of Gary German and John Andrews. A further news release from Jaguar announced the appointment of Rogério Fernandes as Chief Operating Officer, following the retirement of Lúcio Cardoso at the end of January.
Street consensus lacks visibility
First Asset Investment Management Inc senior portfolio manager John Stephenson said in December following on news of the very sudden departure of the Chief Executive Officer that it was likely the reported Chinese bid would be successful. Institutional Equity Research Analyst at Cormark Securities Richard Gray offered that “the board of directors may find a nice, easy, cash offer the better way to go” in a note to clients in November. The market has responded positively to the most recent news as the share prices have appreciated 4.8 percent since the announcement.