In today’s briefing:
- RED5 & Silver Lake Resources Merger of Equals: Market Loves It (Not!)
RED5 & Silver Lake Resources Merger of Equals: Market Loves It (Not!)
- Red 5 Ltd (RED AU) and Silver Lake Resources (SLR AU) have announced a Merger of Equals that would create a mid-tier gold company.
- Red 5 will acquire 100% of the shares in Silver Lake Resources and Silver Lake shareholders will receive 3.434 RED5 shares for each Silver Lake share held.
- The swap ratio is near the bottom of the historical price range of the stocks and it is no wonder that Silver Lake Resources (SLR AU) is being sold today.