Chinese exploration giant Zijin Mining (Shanghai:601899) (Hong Kong:2899) on Friday announced that it would buy all issued and outstanding shares of Nevsun Resources (NSU) in what both companies term as a “compulsory acquisition.”
As per the terms of the deal, all remaining Nevsun shareholders would receive consideration of 6 Canadian dollars (CAD) per share.
“In order to receive payment for their Nevsun Shares, Remaining Shareholders must submit the letter of transmittal circulated with the Notice of Compulsory Acquisition along with all certificate(s) and/or DRS Statement(s) representing their Nevsun Shares to Computershare Trust Company of Canada. The Offeror intends to pay the cash consideration for the remaining Nevsun Shares on or about March 12, 2019. Remaining Shareholders are requested to complete and return the letter of transmittal before March 12, 2019,” read a Nevsun letter to shareholders.
Nevsun shares are expected to be delisted from the Toronto Stock Exchange and the New York Stock Exchange on or about March 8, 2019.
We’re on Apple News! Follow us to receive the latest stock market, earnings, and financial news at your fingertips
Most Popular
IPO Alert: What to look for when Boundless Bio goes public
Boundless Bio is preparing to debut on the Nasdaq stock market this week, and become the latest addition to the list of biotech firms that have launched IPOs this year.
Nike (NKE) bets on innovation and partnerships to return to high growth
Sneaker giant Nike, Inc. (NYSE: NKE) has been going through a rough patch for some time, with sales coming under pressure from weak demand and rising competition. Post-pandemic, the company
Walgreens Boots Alliance set to report earnings next week. Here’s what to expect
Walgreens Boots Alliance, Inc. (NASDAQ: WBA), the drug store chain that is expanding into a diversified healthcare provider, is on a restructuring drive aimed at better aligning the business with
Comments