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Saracen closes Bligh Resources takeover

Gold miner Saracen Mineral Holdings Ltd.'s takeover bid to acquire all of the shares of Bligh Resources Ltd. closed Aug. 12 with a relevant interest of 95.72%.

The company said Aug. 14 that it will complete the compulsory acquisition process in due course. Saracen shares were down 8.72% by ASX trading close following the announcement.

Saracen made an off-market takeover offer in mid-June to acquire each Bligh share in exchange for 0.0369 of a Saracen share, valuing Bligh at A$38.2 million.