Adriatic Metals, a valuable metals mining group, is within the early levels of takeover talks which may result in it turning into the newest London-listed firm to succumb to an abroad bidder.
Sky Information understands that Adriatic Metals is within the very early levels of discussions with Dundee Valuable Metals, a Toronto-listed peer.
The standing of the talks and different key particulars, together with any supply value underneath negotiation, have been unclear on Tuesday.
One individual near the scenario stated it was unclear whether or not any formal supply would emerge.
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Valued at about £610m, Adriatic has a market capitalisation roughly one-third of that of Dundee, which has a presence within the Balkans.
With a standard takeover premium factored in, any supply may worth the goal at properly over £700m, in line with bankers.
Adriatic produces copper, gold, lead, silver and zinc from not too long ago developed mining operations in Bosnia and Herzegovina.
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The corporate is run by chief govt Laura Tyler, a former senior BHP govt who’s amongst few feminine bosses within the world mining business.
London-listed shares in Adriatic Metals have been practically 6% larger in Tuesday afternoon buying and selling amid rising bid hypothesis.
The 2 firms have been rumoured to have held related talks as not too long ago as final 12 months, though they didn’t progress to any type of public affirmation.
A spokesman for Adriatic, which can also be quoted in Australia, declined to remark, whereas Dundee couldn’t be reached for remark.
