12/3/2019, 11:55 AM (Source: TeleTrader)
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Endeavour Mining offers $1.9B for Centamin

Endeavour Mining Corp. has revealed on Tuesday it had made a $1.9 billion takeover bid for Centamin Plc. It believes the merger would benefit both sides. The proposal was submitted last month and the previous offer was $1.5 billion.

The proposal was publicly announced "due to the strong merits of the merger and its potential to create value...[and] so that the voices of shareholders are heard," stated Endeavour chairman Michael Beckett.

According to the proposed all-stock deal, Endeavour would give 0.0846 of its shares for each Centamin share, which is approximately a 13% premium to Monday's closing price.

Breaking the News / DD