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BRIEF-Galaxy Resources and General Mining to merge

Published 30/05/2016, 10:09 am
© Reuters.  BRIEF-Galaxy Resources and General Mining to merge
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May 30 (Reuters) - Galaxy Resources Ltd GXY.AX :

* Galaxy Resources and General Mining to merge GXY.AX

* General Mining shareholders will receive 1.65 new Galaxy shares for every 1 General Mining share held

* Galaxy Resources and General Mining Corporation entered into definitive takeover bid implementation agreement to merge two co

* Proposal is unanimously recommended by directors of General Mining who have also agreed to accept galaxy's offer in respect of all shares they control

* The offer values General Mining at approximately A$216 million

* Says Steinepreis Paganin is acting as Australian legal adviser to Galaxy

* Says Canaccord Genuity is acting as financial adviser to General Mining

* Says Squire Patton Boggs is acting as Australian legal adviser to General Mining

* Source text for Eikon ID:nASX3wSqDK

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