Dampier Gold (ASX: DAU) has received an off-market takeover offer from Ord River Resources (ASX: ORD) of six ORD shares and $0.015 cash for each Dampier share.
This represents a premium of 78.7% to the 90 day volume weighted average price on the ASX to 28 April 2014
The company has advised shareholders to take no action in relation to Ord’s takeover bid and noted that shareholders have until at least 5 June 2014 to make a considered decision.
It also noted that a formal target’s statement would be released shortly.
Dampier has appointed Steinepreis Paganin as its legal adviser in respect of the offer.
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