Siren Gold Ltd (AU:SNG) has released an update.
Siren Gold Limited (ASX: SNG) recently resolved not to proceed with a non-binding indicative proposal from Federation for an all-scrip acquisition, which would have resulted in SNG owning 17.5% and Federation 82.5% of the combined entity. The board concluded that the proposal was not in the best interest of shareholders after a detailed discussion and analysis. This decision comes amid the company’s prompt handling of the disclosure obligations following a media article that made the proposal public.
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