Shares of Allied Nevada Gold Corp. (NYSEMKT:ANV) (TSE:ANV) shot up to a high of $4.95 yesterday on the news that China Gold Stone Mining Development, a little-known Chinese mining company had commenced a cash tender offer for all of its outstanding shares of common stock, and related stock purchase rights, for $7.50 per share in cash, with the said offer scheduled to expire on January 24, 2014.
Allied Nevada Gold puts shareholders and exchanges on alert
Allied Nevada Gold Corp. (NYSEMKT:ANV) (TSE:ANV) responded to the ‘offer,’ saying it “questions the credibility of the Proposal and advises shareholders to review announcements from China Gold Stone with caution.” Trading in shares was halted following the news.
The company pointed out that there was little...
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