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Peak Rare Earths Limited ( (AU:PEK) ) has provided an announcement.
Peak Rare Earths Limited has announced a change in the acquiring party for its proposed acquisition. Originally set to be acquired by Chenguang through AMIM, the acquisition will now be undertaken by Shenghe Singapore, a subsidiary of Shenghe Resources. This change removes the need for regulatory approvals from the People’s Republic of China, potentially streamlining the acquisition process. The scheme values Peak at approximately $157.99 million, with shareholders receiving at least $0.359 per share. The Peak Independent Board continues to recommend the scheme, pending no superior proposals and a favorable independent expert review. The company awaits further approval from the Tanzanian Mining Commission due to the change in acquiring entity.
The most recent analyst rating on (AU:PEK) stock is a Buy with a A$0.70 price target. To see the full list of analyst forecasts on Peak Rare Earths Limited stock, see the AU:PEK Stock Forecast page.
More about Peak Rare Earths Limited
Peak Rare Earths Limited is a company operating in the mining industry, focusing on the extraction and processing of rare earth elements. The company is strategically positioned in the market to leverage the increasing demand for rare earth materials, which are essential for various high-tech and green technologies.
YTD Price Performance: 195.24%
Average Trading Volume: 1,381,348
Technical Sentiment Signal: Hold
Current Market Cap: A$133.5M
See more insights into PEK stock on TipRanks’ Stock Analysis page.