Perseus Mining Ltd (ASX:PRU, TSX:PRU, OTC:PMNXF) has increased the offer consideration under its existing off-market takeover bid for fellow African gold play OreCorp Limited to A$0.575 per OreCorp share from the previous $0.55.
OreCorp has received the conditional offer subject to OreCorp’s board recommending that shareholders accept Perseus’s offer in the absence of a superior proposal.
As of March 19, Perseus held 22.01% of OreCorp.
Intention statements
In a statement, OreCorp said that it had received statements of intent from major shareholders Tim Goyder and Nick Giorgetta who in aggregate hold approximately 15.6% of OreCorp shares indicating that they intended to accept the amended proposal.
Each has stated that they intend to accept the amended offer in respect of their shares by the end of the second trading day after the later of:
- the OreCorp board recommendation being released to ASX; and
- the amended…
