Westgold Resources (AU:WGX) has released an update.
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Westgold Resources Limited faces a challenge from Ramelius Resources over its recent arrangement to acquire Karora Resources Inc., which includes a controversial termination fee and standstill restrictions. Ramelius argues that the agreement terms unfairly lock up Westgold and has misled shareholders with its synergy estimates. The Takeovers Panel has yet to decide if proceedings will commence on these allegations.
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