Gemfields committee recommends Fosun offer despite calling it ‘unreasonable’

June 20, 2017

Responsive image

Emerald miner Gemfields on Tuesday said Fosun Gold Holdings’ cash offer for all the shares in Gemfields at 45p apiece – totaling £256-million – was unfair and unreasonable. Fosun Gold on Tuesday morning raised its offer for Gemfields, with the offer representing a premium of 18% to Gemfields’s share price of 38.13p at the close of business on May 18, the last business day before Pallinghurst Resources made its $150-million offer to acquire the shares in Gemfields it does not already own.

Category: General