M&A

Zeta bids to hijack Saracen's Bligh deal

LISTED investment company Zeta Resources is trying to acquire Bligh Resources' Bundarra gold project from right under the nose of miner Saracen Mineral Holdings, with the latter signing a deal to buy the potential development opportunity last month and awaiting confirmation from a general meeting of Bligh's shareholders slated to be held today.

Michael Quinn

Zeta bids to hijack Saracen's Bligh deal

Zeta’s eleventh hour bid to trump Saracen sees it offering A3.5c cash per Bligh share, with the investment company already holding 19.9% of the target company. The Saracen transaction was a scrip deal...

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