Mako Gold takeover offer details

Mako Gold (ASX:MKG) has announced that its directors have accepted takeover offers from Aurum Resources Limited. Aurum is offering a share exchange, with Mako shareholders receiving one Aurum share for every 25.1 Mako shares. The offer, representing a 124% premium over Mako's 30-day VWAP, is set to close on 4 December 2024 unless extended.

Overview of Mako Gold's takeover situation

Mako Gold's directors have accepted a takeover offer from Aurum Resources, which includes a share exchange and option conversion at a significant premium. The directors recommend acceptance of the offer, highlighting the absence of competing proposals. Aurum Resources currently holds a 29.56% interest in Mako, excluding director shares. The offer deadline is 4 December 2024, providing a strategic opportunity for Mako's shareholders to benefit from the premium valuation. This development indicates a potential shift in Mako's ownership structure, aligning with the company's strategic goals.

Executive comments on the takeover

The directors of Mako recommend that the company's shareholders and option holders accept these offers, which are set to close on 4 December 2024, unless extended.