Deals
Gold Miner Ramelius to Buy Smaller Australian Rival Spartan
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Ramelius Resources Ltd. will buy gold developer Spartan Resources Ltd. in a transaction valuing the smaller Australian producer at A$2.4 billion ($1.5 billion), as miners seek more supply amid soaring bullion prices.
The offer represents an 11.3% premium to Spartan’s closing price on March 14, Ramelius said in a statement on Monday. The value of the takeover deal is about A$1.8 billion, according to Bloomberg calculations.