The Phaserl


Hostile Takeovers Gone Bad: Steve Todoruk

Key points: Juniors that are likely to be taken over typically see a significant increase in trading volume just prior to takeover negotiations. For “takeover plays” in our portfolio, this can be an early signal that we are right.

by Henry Bonner, Sprott:

How do big mining companies and small exploration companies hammer out takeover deals with the takeover premiums that shareholders expect? What happens when negotiations go wrong?

Steve Todoruk, an Investment Executive at Sprott Global Resource Investments Ltd, has nearly two decades of experience in the field at mining projects. Steve walked me through a recent takeover example that shows how the game is played, and why volume typically rises substantially in the period preceding takeover talks.

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