Higher offer sparks Azumah capitulation

AZUMAH Resources’ board has capitulated to a hostile takeover bid by key shareholder and its partner in the 2.8 million ounce Wa gold project in Ghana, unanimously recommending shareholders accept the offer, after Ibaera Capital bumped up its cash offer from A2.8c to 3.3c.

Higher offer sparks Azumah capitulation Higher offer sparks Azumah capitulation Higher offer sparks Azumah capitulation Higher offer sparks Azumah capitulation Higher offer sparks Azumah capitulation

Azumah has recommended a takeover offer from its partner.

Azumah's tune has changed over the past two weeks, when its target statement rejected the hostile offer and signalled an intention to fight, saying Ibaera may even be prepared to sell Wa.

topics

loader