Currently 53.72% of NGM Resources (ASX:NGM) shareholders have accepted the Paladin (ASX: PDN) takeover offer, with the directors of NGM encouraging the remainder of shareholders to promptly accept the offer.
The directors of NGM have accepted the Paladin offer.
Robert Kirtlan, executive director, said: “I encourage all NGM shareholders to review the Bidder’s Statement and, as soon as they are able, to Accept the Paladin Offer.”
Consideration comprises one fully paid ordinary Paladin share for every 23.9 fully paid ordinary NGM shares, implying a value of $0.15 per NGM Share.
The offer is scheduled to close on Friday 8 October 2010.