Finders receives takeover offer
Friday, October 6 2017 - 07:34 AM WIB
ASX-listed Finder Resources Limited announced Friday it has received a letter from Eastern Field Developments Limited, a special purpose vehicle jointly owned by Procap Partners Limited, IDX-listed investment firm PT Saratoga Investama Sedaya Tbk and IDX-listed gold mining firm PT Merdeka Copper Gold Tbk, stating the consortium's intention to make an off-market takeover offer for all of the shares in Finders. The proposed offer is unsolicited.
The company said in a statement that the proposed offer is at a price of 23 cents cash per Finders share, and is subject to a number of conditions. The offer letter states that a bidder's statement will be sent to Finders shareholders in due course.
?The Finders directors will consider the terms of the proposed offer, and the content of the bidder's statement (when received) and will advise Finders shareholders of their recommendation in due course,? Finders said.
Editing by Reiner Simanjuntak