SSR Mining to Acquire Roxmore Resources
SSRM sits 95% above its 52-week low of $18.19.
Summary
SSR Mining announced the acquisition of Roxmore Resources. Roxmore shareholders will receive C$6.75 per Roxmore common share in cash and common shares of a newly created gold exploration company. The Arrangement Agreement includes a C$18.0 million termination fee, a 10% dissent rights condition, and an outside date of April 13, 2027. The deal expands SSR's asset base and follows a period of strong cash generation and debt elimination. The acquisition is likely to be accretive to reserves and production, though details are pending. This is a material corporate development for a company with a $7.2B market cap.
Updated with an SEC 8-K filing · What changed
Updates
· SEC 8-K — The Arrangement Agreement includes a C$18.0 million termination fee, a 10% dissent rights condition, and an outside date of April 13, 2027.
At the time of this announcement, SSRM was trading at $35.51 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $7.2B. The 52-week trading range was $18.19 to $39.44. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.