Finance
Canada's Dundee Precious to buy UK's Adriatic Metals in $1.25 billion deal
Published by Global Banking & Finance Review®
Posted on June 13, 2025
2 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on June 13, 2025
2 min readLast updated: January 23, 2026
Dundee Precious Metals acquires UK's Adriatic Metals for $1.25 billion in a cash-and-stock deal, enhancing its mineral reserves.
(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)
The acquisition of Adriatic Metals by Dundee Precious Metals is valued at $1.25 billion.
Dundee is offering 268 pence per Adriatic share, which includes a 50.5% premium.
Dundee believes the combined group will strengthen operations through an attractive production and mineral resource base, as well as cash flow diversification.
Adriatic Metals is currently developing the Vareš silver project in Bosnia and Herzegovina.
This transaction is part of a growing wave of acquisitions targeting UK-based firms, with over 30 bids exceeding 100 million pounds announced this year.
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