India, July 14 -- Genesis Minerals Limited (GMD.AX), an Australian gold miner, and Vault Minerals Limited (VAU.AX), another gold producer, said on Tuesday that they have entered into a binding scheme implementation deed, or SID, for their proposed merger.
"The scheme is expected to create a highly attractive, globally significant gold company, with the merged entity to have A$12.6 billion pro-forma market capitalisation," Genesis said in a statement.
Genesis Minerals will acquire Vault 0.7629 for new Genesis shares and A$0.475 in cash for per Vault share. This represents total consideration of A$5.2741 per Vault share, representing a 15.7% premium to Vault's closing price. The transaction values Vault at around A$5.6 billion.
Post transa...