Company News

CORRECTED-Endeavour Mining discloses $1.9 bln takeover proposal for Centamin

(Corrects to say Endeavour is disclosing its proposed offer, not taking the proposal hostile, in the headline and first paragraph)

Dec 3 (Reuters) - Canada’s Endeavour Mining Corp on Tuesday disclosed its 1.47 billion pound ($1.89 billion) buyout proposal for Centamin Plc, after the British gold miner refused to discuss the bid.

Endeavour Mining said the all-share takeover plan has an exchange ratio of 0.0846 Endeavour shares for each Centamin share, a 13.1% premium to their closing price on Monday.

Centamin did not immediately respond to Reuters’ request for a comment outside of business hours. ($1 = 0.7794 pounds) (Reporting by Muvija M and Shanima A in Bengaluru; Editing by Rashmi Aich)