Markets

Extract Resources Gaining on Possible Deal Involving Minority Stake Shareholder

Extract Resources Ltd (EXT.TO) is getting a 12% boost from an announcement earlier today by a minority stakeholder it was still in discussions for a possible takeover.

In a statement, Kalahari Minerals ("Kalahari") said it remains in talks with CGNPC Uranium Resources Co Ltd over a proposed cash buyout of Kalahari. The firms have extended their deadline for a final agreement to June 17 but did not say what issues are keeping the sides apart.

Kalahari owns a 42.76% stake in Extract Resources.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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