The United Kingdom-headquartered miner’s offer price of A$0.66 per Cardinal share represents an 11.9% premium to its last close, as well as a 10% premium to a bid by China’s Shandong Gold Mining Co in June.
Nordgold is currently Cardinal’s largest shareholder with a voting power of 18.7%, and had attempted to buy the company for about A$0.46 per share in March.
--Reuters--