Aurum Resources (ASX:AUE) said its off-market takeover bid to acquire all ordinary shares in Mako Gold (ASX:MKG) is its best and final offer, according to a Thursday filing with the Australian bourse.
The company will acquire shares in Mako Gold for a consideration of one Aurum share for every 25.1 Mako shares, and will not further increase the offer, the filing said.
Mako Gold's board unanimously recommended that remaining shareholders accept the offer, which expires on Jan. 31, in the absence of a superior proposal, according to the filing.
Aurum Resources now owns 86.77% of Mako Gold's shares on issue, per the filing.
Its shares fell 3% in recent trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.