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Endeavour Mining urges Centamin to seek takeover offer date extension

Published 19/12/2019, 07:50
Updated 19/12/2019, 07:53
© Reuters.  Endeavour Mining urges Centamin to seek takeover offer date extension

(Reuters) - Canada's Endeavour Mining Corp (TO:EDV) on Thursday urged Centamin Plc (L:CEY) to seek an extension for a deadline by which it needs to make a firm offer to buy the London-listed miner.

Endeavour said it had insufficient time before the current "put up or shut up" deadline of Dec. 31 to complete due diligence and asked Centamin to request the British takeover panel to extend the deadline to Jan. 31, 2020.

"Endeavour will only proceed if it can complete a proper and comprehensive due diligence exercise, including technical analysis and site visits," it said.

Centamin said on Wednesday that Endeavour had indicated it would not provide the information the British company had requested unless it agrees to an extension of the deal deadline.

Latest comments

Cey has/is a good long term business. Is a good producer. The directors are ‘genuinely honest’. Endeavour need to be sharper if they mean what they say. Endeavor needs to put money where there mouth is. A half hearted try is not good enough. Bye-bye endeavor :) cey are sitting pretty!
Cey are sitting pretty. Endeavour is a half hearted effort.
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