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    Finance

    Posted By Global Banking and Finance Review

    Posted on June 13, 2025

    Featured image for article about Finance

    (Reuters) -Canada's Dundee Precious Metals will acquire UK's Adriatic Metals in a cash-and-stock deal valued at $1.25 billion, the companies said on Friday, marking the latest in a string of foreign takeovers of UK firms.

    The proposed transaction comes amid a growing wave of acquisitions targeting UK-based firms, with more than 30 bids exceeding 100 million pounds announced so far this year, up from 26 during the same period last year.

    Toronto-listed Dundee is offering 268 pence per Adriatic share in a cash-and-stock deal, consisting of 93 pence in cash and 0.1590 new Dundee shares for each Adriatic share, a 50.5% premium to Adriatic's closing price on May 19.

    Dundee said the combined group will strengthen operations through an "attractive production, mineral reserve and mineral resource base and a compelling metal mix."

    "The Vareš is a logical fit with our portfolio, and adds near-term production growth and mine life, a highly prospective land package, and cash flow diversification," Dundee CEO David Rae said in a statement.

    Dundee, a gold miner with operations in Bulgaria and Namibia, is acquiring London-listed Adriatic, which is currently developing the Vares silver project in Bosnia and Herzegovina.

    (Reporting by Anandita Mehrotra in Bengaluru; Editing by Tasim Zahid and Sherry Jacob-Phillips)

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