TD Securities analyst Arun Lamba downgraded Sabina Gold & Silver (SGSVF) to Tender from Speculative Buy with a price target of C$1.87, down from C$2.75, after B2Gold (BTG) agreed to acquire all of the issued and outstanding shares of Sabina for shares with an implied value of C$1.87 per Sabina share. The deal, which implies a total equity value of C$1.1B on a fully diluted basis, is a "favorable outcome for shareholders" as it represents a fair premium, the firm says.
Published first on TheFly
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