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BARRY FITZGERALD
OZ secures a conga line of projects in Avanco bid
OZ Minerals triggered a bout of indigestion for its stock followers when it lobbed its agreed takeover bid for ASX-listed Brazilian copper and gold producer/developer Avanco on Tuesday morning. But the indigestion didn’t last long, writes <b>Barry FitzGerald</b>.
Avanco drilling at Pedra Branca
By the close of trade on Tuesday the scrip and cash bid valued Avanco at 16.69c a share or $442 million - a whopping 116% premium to Avanco's undisturbed pre-bid share price. The size of the premium...
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