Pretium Resources Secures Shareholder Approval Of Acquisition By Newcrest Mining
Pretium Resources Inc. (TSX: PVG) announced on Thursday that its shareholders have approved the previously announced acquisition by Newcrest Mining Limited. The arrangement was voted in favor by 95.48% of the shareholders present during the special meeting.
Shareholders who elected for the all-cash consideration will get $10.81 in cash and 0.3357 Newcrest shares per Pretivm share, while those who chose the all-share consideration will receive 0.8084 Newcrest shares per Pretivm share.
Those who did not elect any preferred consideration will automatically get $9.25 in cash and 0.4042 Newcrest shares per Pretium share.
In November, the companies entered into a binding agreement for Newcrest to acquire all outstanding shares of Pretium. The offer came in at $18.50 in cash or 0.8084 Newcrest shares per Pretium share. The total equity value pursuant to the transaction is approximately $3.5 billion on a fully diluted basis.
Pretium Resources last traded at $18.30 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
