Australia's Far East Gold at near 2-year high on Xingye Gold takeover bid
28/05/2026 01:42
BUZZ-Australia's Far East Gold at near 2-year high on Xingye Gold takeover bid ** Shares of Far East Gold FEG.AX rise as much as 39% to A$0.125, set for best session since mid-July, 2024
** Highest level since May 7
** Copper and gold explorer receives unsolicited off-market takeover bid to acquire all of the ordinary shares in FEG that it does not already own from Xingye Gold (Hong Kong) Mining Co
** Cash consideration of A$0.13 per share represents a 44% premium to the stock's last close
** Advised to 'take no action' in relation to the takeover offer at this time
** Adds no prior discussions or engagement occurred between Xingye Gold, co
** About 968,000 shares change hands, 7 times the 30-day avg
** Down 19% YTD, including the session's moves
(Reporting by Anjali Singh in Bengaluru)
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