That's a lot lower than i was expecting (around 20%) but they're playing it smart. The ORR BoD have to give it the thumbs up because it's arguably a superior offer to Silvercorp's at least in the short term. That said I don't think they'll get 50.1% with it. Still very early in the piece. I won't accept it. Would rather hold a minority stake in ORR through development.
Disclosure...hold both PRU & ORR
Ann: PRU: Perseus announces intention to make takeover bid for O., page-3
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