Interesting reaction.
While KGD may argue that the bid is undervalued, a takeover not only eliminates a lot of double administration and simplifies the road to production, but in addition there is the substantial savings of one less board of directors which I question the need for.
KGD shareholders do enjoy future upside of GPR share price in addition to the premium on current share prices so not sure the accuracy in KGD's assertion the offer is opportunistic and undervalued.
Ann: KGD: Receipt of Unsolicited Intention to make a T/O Offer, page-2
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