Australian gold producer Ramelius Resources will acquire its smaller rival Spartan Resources in a deal valuing the latter at approximately A$2.4bn ($1.5bn). The acquisition, proposed under a binding transaction implementation deed,

Ramelius Resources wants to acquire Spartan Resources to create a larger gold-mining company that’s more appealing to investors, in a deal that values Spartan around $1.5 billion.

MELBOURNE: Australia's Ramelius Resources will take over smaller peer Spartan Resources, valuing the miner at A$2.4bil (US$1.5bil) on a debt-free basis, as rising bullion prices drive a wave of consolidation in the sector.

Ramelius Resources Ltd. will buy gold developer Spartan Resources Ltd. in a transaction valuing the smaller Australian producer at A$2.4 billion ($1.5 billion), as miners seek more supply amid soaring bullion prices.

Ramelius Resources’ potential $2.4 billion acquisition of Spartan Resources has set the mining industry abuzz. But how will it shape the country’s gold sector?

Ramelius Resources has agreed to buy West Australian gold miner Spartan Resources, winning over its smaller rival with a $2.4bn takeover bid.

Australian gold miner Ramelius Resources Ltd (ASX: RMS) has announced plans to acquire Spartan Resources Ltd (ASX: SPR) in a A$2.4 billion ($1.5 billion) deal, creating a gold producer with a market capitalization of A$4.

Spartan and Ramelius Resources to join forces to become Australia's next big gold producer in a $2.4 billion deal. ... Read More The post Break it Down: Spartan and Ramelius to tie the knot on $2.4b deal appeared first on Stockhead.

Ramelius Resources agreed to acquire smaller Australian gold miner Spartan Resources in a cash and stock deal valued at ~A$2.4B (US$1.5B).