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Endeavour ends merger talks with Centmain

Endeavour ends merger talks with Centmain
Endeavour sought to control Centamin’s assets that include the Sukari mine in Egypt

Cairo – Mubasher: Canada’s Endeavour Mining Corporation announced the termination of merger discussions with Centmain.

The quality of information received during the accelerated due diligence process has been insufficient to allow us to be confident that proceeding with a firm offer would have been in the best interests of Endeavour shareholders,” Endeavour’s CEO, Sébastien de Montessus, said in a statement on Tuesday.  

In December 2019, the board of directors of Centamin rejected an acquisition proposal from Endeavour which offered 0.0846 of its own shares for each Centamin’s share in a bid to control Centamin’s assets that include the Sukari mine in Egypt.