Jefferies reiterates positive view for Australia's AIC Mines' takeover of Demetallica

AIC Mines

07/11/2022 22:29

** Jefferies says its maintains view that Australia's AIC
Mines'  A1M.AX  takeover offer for Demetallica  DRM.AX  is
logical and 30% accretive for net present value 
    ** Co on Monday said it has executed a deed to implement its
off-market takeover offer for mineral explorer Demetallica to
improve its offer consideration to 1 A1M share for every 1.3 DRM
shares held  urn:newsml:reuters.com:*:nL4N3230AK
    ** The broker says the revised offer metrics from A1M will
provide numerous synergies to both entities; will be dilutive to
the earnings per share for A1M
    ** Brokerage reiterates "Buy" rating on A1M, but cuts price
target to A$0.65/shr from A$0.70/shr 
    ** All three analysts rate the stock "buy" or higher, none
"hold", "sell" or lower; their median PT is A$0.73 – Refinitiv
data
    ** Stock has fallen 20% this year, as of last close
 (Reporting by Archishma Iyer in Bengaluru; Editing by Lisa
Shumaker)
 ((Archishma.Iyer@thomsonreuters.com;))