Take-over price - possibly a mute topic at this point.I could see an $8 Canadian price for a take-over target, as a starting point. However, the whole topic is mute for now.
The whole issue may blow over by Monday. It's possible that it was a rumour. However, I'd be surprised if the newspaper that reported it didn't at least phone the company to verify. That would be journalism 101.
Here's the headline and first few lines of text from The West Australian. I assume that they have some sort of journalism expertise.
(The currency of the billion dollars is in question - but let's assume that it is starting at 1 billion Australian. No deal would be done for that small amount.)
Karora Resources in a deal that could surpass $1 billion
Adrian Rauso
The West Australian
Wed, 6 March 2024 8:39PM
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Adrian Rauso
The ever acquisitive Ramelius Resources is back on the prowl, as the gold miner eyes off its biggest catch yet in a bid to further expand its WA footprint.
Sources close to the proposed deal confirmed Ramelius is in late-stage takeover discussions with fellow gold producer Karora Resources, which trades on the Toronto Stock Exchange at a value of about $945 million.