JSE-listed mining and exploration company Bauba Resources has advised that it is in a process of cooperating with fellow-listed Raubex on a joint circular to shareholders, which will provide more information on Raubex’s mandatory takeover offer and Bauba’s response to it.
Raubex on February 3 acquired a further 24.7% shareholder in Bauba, at a price of 36c a share, and made an offer to acquire the remaining shares for 42c apiece, constituting a full takeover of Bauba.
This barring the 22% stake owned by concert party Pelagic.
The offer is set to open to acceptances on March 2.