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PRECIOUS METALS
Stunning day one nod for Northern Star-Saracen
There is a natural inclination to think that in a nil premium scrip merger, one set of shareholders – usually the smaller of the two - is being done over.
Raleigh Finlayson (left) and Stuart Tonkin at the Super Pit in Kalgoorlie, Western Australia
To placate the unhappy, the merging entities point to the re-rating to come from the marriage because of its "compelling" logic, and because it comes with a bagful of synergy benefits to be shared by all....
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