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Western Areas wins as Panoramic shareholders suffer

Panoramic Resources’ shareholders can be forgiven for shaking their collective heads a little about their board knocking back a A$300 million (US$200 million) scrip bid just six months ago given their company is now being notionally valued at less than half that headline amount.

Western Areas wins as Panoramic shareholders suffer Western Areas wins as Panoramic shareholders suffer Western Areas wins as Panoramic shareholders suffer Western Areas wins as Panoramic shareholders suffer Western Areas wins as Panoramic shareholders suffer

Savannah in Western Australia

In reality though, the bid by IGO would likely have lapsed or reduced given there were circa 50 clauses inserted in the offer, allowing the predator plenty of wriggle room to walk away.

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