Dundee Precious Metals in talks for Adriatic Metals takeover

Dundee Precious Metals, a Canadian gold mining company, is in ongoing discussions to potentially acquire UK-based Adriatic Metals, though no firm offer or terms have been confirmed. Both companies have disclosed that Dundee has limited due diligence access, and pursuant to UK takeover rules, Dundee must announce a definitive intention to make an offer or withdraw by June 17, 2025. Adriatic Metals' shares rose sharply following the news, reflecting market optimism about a possible bid valued around £700 million ($935 million). Adriatic's board has advised shareholders to take no action while the discussions continue. The potential acquisition is viewed as a strategic move that could consolidate their positions in the mining sector, but the talks remain preliminary and may not result in a formal offer. Investors and industry stakeholders are closely monitoring the situation given its potential impact on market dynamics.