Regis Resources agrees to merge with Vault Minerals

Vault holders were offered 0.6947 Regis shares each in an all-share deal valuing the combined group at about A$10.7bn and producing more than 700,000 ounces a year. In July Genesis Minerals made a superior proposal, Regis declined to match it and received a break fee of about A$50.7m.

Why it matters. A matching right gives the first bidder a chance to keep the deal, and a break fee pays it if it does not.

Source

MINING.COM

In the course

Module 9: The M&A process