GMM 0.00% 65.5¢ general mining corporation limited

May 30 (Reuters) - Galaxy Resources Ltd (GXY) : Galaxy...

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    May 30 (Reuters) - Galaxy Resources Ltd (GXY) :

    • Galaxy Resources and General Mining to merge (GXY)
    • General Mining shareholders will receive 1.65 new Galaxy shares for every 1 General Mining share held
    • Galaxy Resources and General Mining Corporation entered into definitive takeover bid implementation agreement to merge two co
    • Proposal is unanimously recommended by directors of General Mining who have also agreed to accept galaxy's offer in respect of all shares they control
    • The offer values General Mining at approximately A$216 million
    • Says Steinepreis Paganin is acting as Australian legal adviser to Galaxy
    • Says Canaccord Genuity is acting as financial adviser to General Mining
    • Says Squire Patton Boggs is acting as Australian legal adviser to General Mining
                            
 
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Currently unlisted public company.

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