Adriatic Metals Climbs on Possible Takeover Bid by Dundee Precious Metals

Dow Jones

May 20, 2025

By Andrea Figueras

Shares in Adriatic Metals rose after media reports of discussions with Dundee Precious Metals regarding a possible takeover offer that the U.K. metals and mining company then confirmed.

The stock traded 28% higher at 228 pence in European afternoon trading.

Discussions remain ongoing and there can be no certainty that any firm bid will be made, nor as to the terms of any such offer, the London-based company said Tuesday. Adriatic Metals had a market value of 613.94 million pounds ($820.3 million) as of June 19.

Adriatic Metals agreed to provide the Canada-based gold mining company with access to limited due diligence information in order to facilitate discussions. Dundee Precious Metals must announce its firm intention to make an offer or refuse to do so by June 17.

Further announcements will be made in due course, Adriatic Metals said. In the meantime, it advised its shareholders to take no action.

Write to Andrea Figueras at andrea.figueras@wsj.com

(END) Dow Jones Newswires

May 20, 2025 11:16 ET (15:16 GMT)

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Adriatic Metals had a market value of 613.94 million pounds ($820.3 million) as of June 19. \n\n\n  Adriatic Metals agreed to provide the Canada-based gold mining company with access to limited due diligence information in order to facilitate discussions. Dundee Precious Metals must announce its firm intention to make an offer or refuse to do so by June 17. \n\n\n  Further announcements will be made in due course, Adriatic Metals said. In the meantime, it advised its shareholders to take no action. \n\n\n \n\n\n  Write to Andrea Figueras at andrea.figueras@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 20, 2025 11:16 ET (15:16 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}