16/10/2017 - 10:55

Shareholder bids $25m for Goldfields Money

16/10/2017 - 10:55

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ASX-listed financial institution Goldfields Money has received a takeover offer from its largest shareholder, which values the target at about $25 million.

Shareholder bids $25m for Goldfields Money

ASX-listed financial institution Goldfields Money has received a takeover offer from its largest shareholder, which values the target at about $25 million.

Through Patersons Securities, investment group Firstmac Holdings will pay $1.12 in cash per share to acquire all the shares it doesn’t already own in Perth-based Goldfields, with the on-market offer to open by the end of the month and run through to December.

Firstmac is Goldfields’ largest shareholder with a near-15 per cent stake.

“Goldfields is reviewing Firstmac’s bidder’s statement in relation to this offer and is preparing its target’s statement in accordance with statutory requirements,” Goldfields said.

“Shareholders are advised to take no action in relation to the offer and bidder’s statement until they have received and considered the target’s statement and independent expert’s report.”

Shares in Goldfields were 14 per cent higher to $1.14 each at 11am.

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