Osino Resources agrees to all-cash acquisition offer from Yintai Gold
BNN Bloomberg
Yintai Gold Co., a Chinese mining company, entered into an agreement to acquire Vancouver-based gold exploration company Osino Resources.
Osino Resources announced in a press release on Monday, that it agreed to an all-cash offer from Yintai at $1.90 per share. The total acquisition price is around $368 million and represents a premium of around 32 per cent above a previous offer from Dundee Precious Metals Inc., which Osino terminated prior to entering into the agreement with Yintai.
“Whilst we were appreciative of the previous offer from DPM, the all-cash offer from Yintai represents a significant premium to the DPM offer price, thus is clearly a superior proposal, and is an excellent outcome for Osino’s shareholders,” Osino President and CEO Heye Daun said in the release.
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