Aurum Resources’ (ASX:AUE) takeover offer for Mako Gold (ASX:MKG) closed on 31 January 2025.
The suitor now has a 91.38% shareholding in takeover target Mako.
As announced on 24 January, Aurum started the compulsory acquisition process for the remaining Mako shares on issue with the full takeover process ongoing.
On 13 January, independent directors urged shareholders to accept Aurum’s takeover offer with the suitor then owning over 86% of Mako’s shares, as reported by Mining.com.au.
Aurum at the time declared the offer, which was then unconditional, its ‘best and final’, stating it would not increase it further.
In mid-October, Aurum handed Mako an off-market merger proposal, offering one Aurum share for every 25.1 Mako shares held, equating to an offer price of $0.018 per share. The bid also includes an offer of one Aurum share for every 170 class A options and one Aurum share for every 248 class B options.
At the time the offer represented a 112% premium to the 30-day volume weighted average price of $0.00855 of Mako shares.
Write to Adam Orlando at Mining.com.au
Images: Mako Gold
