Malagasy ditches Madagascar deal after share surge

MALAGASY Minerals has dumped its proposed merger deal with unlisted Madagascar Resources, announcing this morning it no longer believes the deal would reflect the best interests of shareholders.

Malagasy ditches Madagascar deal after share surge Malagasy ditches Madagascar deal after share surge Malagasy ditches Madagascar deal after share surge Malagasy ditches Madagascar deal after share surge Malagasy ditches Madagascar deal after share surge

First proposed in late May, Malagasy had offered to exchange three of its shares for every one Madagascar share, plus half an option exercisable at A20c for every three Malagasy shares issued.

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