Bacanora Lithium surges on takeover approach from shareholder Gafeng
Bacanora Lithium
67.00p
16:55 25/01/22
-0.37%
-0.25p
Mining company Bacanora Lithium said on Thursday that it has received a takeover approach from major shareholder Gafeng, sending the shares sharply higher.
FTSE AIM All-Share
736.13
12:40 07/11/24
n/a
n/a
Mining
11,301.54
12:34 07/11/24
-1.66%
-191.34
China’s Gafeng, which already has a 29% stake in Bacanora, has offered to pay 67.5p per share for the shares it does not already own. This is a 50% premium to Bacanora’s closing share price on Wednesday.
Gafeng owns a 50% stake in Bacanora’s lithium deposit in Mexico, Sonora.
At 1500 BST, Bacanora shares were up 26% at 56.70p.