Siren Gold Ltd (AU:SNG) has released an update.
Siren Gold Ltd has declined a revised merger proposal from Federation Mining, citing insufficient value for its projects and significant transaction risks. The proposal involved an all-scrip acquisition of Federation by Siren and included conditions like terminating a deal with Rua Gold Corp Inc. Siren’s board found the non-binding and highly conditional proposal unacceptable, prioritizing shareholder interests and existing agreements.
For further insights into AU:SNG stock, check out TipRanks’ Stock Analysis page.