Luxor Bids to Take Over Crocodile Gold

Mineweb reported that Crocodile Gold (TSX:CRK) is the subject of a takeover bid by Luxor Capital Group.

As quoted in the market news:

On Tuesday, Luxor said it would buy up to 215.5 million Crocodile Gold shares for C$0.56 a share, representing a 60% premium over the day’s previous close. The stake would add to the 10-percent of Crocodile Gold that Luxor already owns and, if it fully succeeded, means Luxor would own 85% of Crocodile Gold’s outstanding shares.

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