Spartan Resources (SPR AU): 11th July Vote On Ramelius' Offer

Jun 05, 2025

∙ Paid

On the 17th March, Spartan (SPR AU) agreed to merge with Ramelius (RMS AU). The cash/scrip merger combined operations around the Mount Magnet and Dalgaranga region in Western Australia.
The implied price of A$1.78/share was a 27.5% premium to 30-day VWAP. The deal arrived after Spartan was outbid for Karora (KRR CN), and Spartan rebuffed Westgold (WGX AU)'s approach.
The Scheme Booklet is now out, with a Scheme Meeting on the 11th July, and expected implementation on or before the 31st July. The IE (BDO) says "fair & reasonable".

Keep reading with a 7-day free trial

Subscribe to Aussie/Kiwi M&A/Events to keep reading this post and get 7 days of free access to the full post archives.