Underground precious metals operator Hochschild Mining has announced the expiry of a successful bid for Andina Minerals.
The company's wholly-owned subsidiary, known as 1710503 Alberta, had extended an offer to acquire all of the outstanding shares of Andina Minerals for CAD $0.80 per share on December 28th. On January 11th, the company said that tenders were received for an additional 5,308,672 shares.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
As more than 90% of the shares sought were deposited to the offer, Hochschild intends to acquire all of the remaining shares of Andina not deposited under the offer pursuant to the compulsory acquisition provisions of the Business Corporations Act (Alberta).
Hochschild's share price was down 0.04% to 461.30p at 09:53 on Monday morning.
MF
-
8 of the best properties for sale with kitchen gardensThe best properties for sale with kitchen gardens – from a 17th-century timber-framed hall house in Norfolk, to an Arts & Crafts house in West Sussex designed by Charles Voysey with a garden by Gertrude Jekyll
-
Why you should start investing earlyMost investors wish they had started earlier, and data shows that starting to invest sooner yields greater results over time
