European Goldfields Limited T.EGU

Eldorado Buyout

[inflater]

Looks like Eldorado is offering a buyout of European Goldfields that values European at about 13.08 (2.4 billion).  Seems quite light to me. This offer doesn't even match European's 52 week high. I suspect another suitor steps up.
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[fsabbagh]

What a joke. $13.08 buyout price. How can management accept such a small premium. For some reason, I saw articles indicating the deal represents a 48.4% premium based on both companies’ closing share prices. NO WAY. How could $11.84 Friday closing to $13.08 be 48.4 % premium? They don't know what they're writing.I hope we get a counter offer very soon.

[Weeble]

The offer is a joke....it should be at least $20.  Long term target is $40+ by Doody based on $1500 gold.

[coruscate]

I agree with you. With a bit of guesswork for Piavitsa and the turkish joint ventures, for all of which finance was available, the market capitalisation per ounce of gold equivalent could be about $120 , whereas Eldorado, according to Goldminer, is $263 per ounce.Far from being at a premium EG has not fully recovered from the greek licensing collapse.Management,according to their statement does