SouthernEra: Time Needed to Consider Takeover Bid

Diamond miner SouthernEra Diamonds says it needs more time to “consider the merits of Mwana’s offer.” Mwana Africa PLC is offering to buy all of the outstanding common shares of SouthernEra.

The Mwana is offering one ordinary share for every 2.3333 SouthernEra shares. The offer is open for acceptance until September 5.

SouthernEra is exploring alluvial and kimberlite sites in the DRC as well as other countries including Botswana, South Africa and Canada. The company also holds the Klipspringer diamond mine in South Africa and an 18 percent free carried interest in the Camafuca diamond project in Angola.