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3/1/10

Chariot Resources (CHD.to): the latest copper buyout

the five year chart

Here's the link, here's how the NR starts:

TORONTO, ONTARIO--(Marketwire - March 1, 2010) - Chariot Resources Limited (TSX:CHDNews; "Chariot") announced today that it has entered into an arrangement agreement (the "Arrangement Agreement") with China Sci-Tech Holdings Limited (HKSE:985) ("China Sci-Tech") pursuant to which China Sci-Tech has agreed to acquire through an indirect, wholly owned subsidiary, by way of a court-approved plan of arrangement (the "Arrangement"), all of the issued and outstanding common shares of Chariot at a price of $0.67 in cash per common share (the "Consideration").
continues here

So much for my thoughts in IKN43 about this one possibly dragging on (but I did get the buyer nationality right....that was easy, though). The announcement also coincides with the first day of activity of the new Free Trade Agreement between Peru and China....nothing like a bit of symbolism, is there?

The deal values CHD.to at a touch under $245m mkt cap. Lukas Lundin will be glad to see the back of this one.