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Wednesday, 28th January 2009 (940 views)

B2Gold has offered Central Sun a proposal to combine the two companies.

The news follows an earlier offer from Linear Gold for the acquisition of Central Sun.

However, B2Gold stated that its proposition is "superior" with an exchange ratio of 1.28 B2Gold shares per Central Sun share.

According to B2Gold, Central Sun's board of directors will recommend that shareholders vote in favour of its deal unless Linear Gold can at least match the offer by January 30th.

President and chief executive officer of B2Gold Clive Johnson said that the move would be the company's "first step" towards its goal of becoming an intermediate gold producer.

"We are pleased at the prospect of this strategic acquisition, which will immediately transform B2Gold into a producing gold company," he remarked.

B2Gold recently announced positive results from its drill exploration programme at its Gramalote gold property in Colombia.

 

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