B2Gold

Canadian miner B2Gold has swooped on Perth-based CGA Mining, offering the equivalent of $C3.18 ($3.13) per share in an all-scrip takeover bid worth around $C1.1 billion ($1.08 billion).

THE past 12 months was a lean time for lawyers working in the corporate finance field, with a slump in both takeover deals and capital raisings.Nearly all law firms in Western Australia reported a fall in both the number and value of transactions they worked on.

Perth company director Ian Middlemas has presided over another lucrative takeover deal, after the board of Africa-focused Papillon Resources agreed to a $615 million all-scrip takeover by Canadian major B2Gold.

FEATURE: The June quarter presented a broad range of transactions for corporate players, however a noticeable lack of direction remains.

Perth-based Papillon Resources has agreed to amend the terms of its merger agreement with B2Gold to provide a new incentive for some of its shareholders.

Shareholders of Africa-focused Papillon Resources voted almost unanimously in favour of a $615 million takeover by Canadian-based B2Gold at a scheme meeting held this morning.