Back in August, Toronto-listed Silvercorp put the company in play, lobbing a bid worth 60¢ at the time, split across 15¢ cash and 0.967 scrip. Just before Australia Day, interloper Perseus Mining hit back with a competing bid at 55¢ in cash, which still stands. Silvercorp, on January 16, had already upped its offer to 19¢ in cash, while leaving the scrip component unchanged.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
