UK's Adriatic Metals in takeover talks with Dundee Precious Metals (updated)
20/05/2025 15:53
Changes source in paragraph 1 and headline, adds details throughout May 20 (Reuters) - UK's Adriatic Metals ADT1.L said on Tuesday it was in talks with Canadian peer Dundee Precious Metals DPM.TO regarding a possible takeover. Sky News, which first reported about the potential talks earlier in the day, said a deal could value the British firm at about 700 million pounds ($935.3 million), citing bankers. Adriatic Metals said it has provided Dundee access to limited due diligence information. Dundee is required to provide a firm offer or walk away from the talks by June 17, under the UK takeover rules. ($1 = 0.7484 pounds) (Reporting by Anandita Mehrotra and Simone Lobo in Bengaluru; Editing by Shilpi Majumdar) ((Anandita.Mehrotra@thomsonreuters.com))