The plan of arrangement whereby SSR Mining (SSRM, SSRM.TO) is acquiring all shares of Taiga Gold (TGC.C) in an all-cash deal at C$0.265 still hasn’t closed as a group of warrant holders has objected to the sale. The court has now heard all parties and will make a decision later today.
As the company has not provided any details on what’s at stake and what the potential outcomes could be and what it could mean for the agreed-upon acquisition, nervous investors could consider selling their position ahead of the decision. The bid on the market is currently C$0.25, which is about six percent below the offered cash deal. It’s never easy to leave money on the table but as this is uncharted territory and as Taiga Gold is not offering any details, it’s a choice between playing it safe and taking C$0.25 or hoping for a positive court decision and receiving C$0.265.
Disclosure: The author has no position in Taiga Gold anymore and sold on the open market. Please read our disclaimer.
