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Gascoyne Resources Limited ( (AU:SPR) ) just unveiled an update.
Spartan Resources Limited, a company listed on the Australian Securities Exchange, has announced that the Supreme Court of Western Australia has approved the convening of a scheme meeting and the release of a transaction booklet. This is in relation to the proposed acquisition by Ramelius Resources Limited of all Spartan shares through a scheme of arrangement or a conditional off-market takeover offer. The transaction offers Spartan shareholders $0.25 cash and 0.6957 new Ramelius shares per Spartan share. The Spartan Board unanimously recommends shareholders support the transaction, which has been deemed fair and reasonable by an independent expert, in the absence of a superior proposal.
The most recent analyst rating on (AU:SPR) stock is a Buy with a A$1.20 price target. To see the full list of analyst forecasts on Gascoyne Resources Limited stock, see the AU:SPR Stock Forecast page.
More about Gascoyne Resources Limited
Average Trading Volume: 8,670,777
Technical Sentiment Signal: Buy
Current Market Cap: A$2.95B
See more data about SPR stock on TipRanks’ Stock Analysis page.