TMAC Resources: Plunges as Canada rejects Shandong Gold's bid to buy co

Tatry Mountain Resorts as

22/12/2020 14:47

** Canadian gold producer's shares  TMR.TO  down 16.2% at
C$1.09 in morning trade
    ** Canada rejects Shandong Gold Mining's bid to acquire TMR,
the companies said, with the Chinese miner adding that the sale
was blocked on national security grounds  urn:newsml:reuters.com:*:nL1N2J20MV
    ** Shandong  600547.SS ,  1787.HK  in a regulatory filing,
said it had received notice of a decision by Canadian
authorities on Dec. 18 that it should not proceed with the deal
    ** In its own filing late on Monday, TMAC also said it been
informed of such an order under the Investment Canada Act
    ** Shandong planned to acquire TMAC Resources for C$230 mln
    ** TMR down 65.6% YTD, as of last close

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com;
twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776))