Gemfields has received another takeover offer, this time from Chinese holding company Fosun Gold.
Fosun Gold’s parent Fosun Group, headed by Chinese billionaire Guo Guangchang, owns and invests in a variety of businesses and consumer brands, including the Club Med resort chain.
This is the second takeover offer for Gemfields in as many months. In May, the colored-stone miner received an unsolicited offer from its largest shareholder, Pallinghurst Resources.
The Fosun offer would pay 40.85 pence per Gemfields share, a 15.1 percent premium over its June 13 closing price, and a 10.1 percent premium compared to the offer made by Pallinghurst.
Gemfields has said that Pallinghurst’s unsolicited offer undervalues the company.
“Fosun considers that Gemfields represents a compelling opportunity to continue to develop a leading gemstone producer with a dominant position in both global emerald and ruby production and a strong consumer brand,” said a statement from Fosun.
(Image courtesy of Gemfields)