CAPITAL MARKETS

Bema backs out of Arizona takeover

CANADIAN-based Bema Gold has withdrawn its $C206 million takeover bid for fellow Canadian junior Arizona Star Resources due to current market conditions and to focus on its Kupol and Refugio projects.

Ben Sharples
Bema backs out of Arizona takeover

Bema also said it “has concerns about being a non-controlling shareholder of Arizona Star, given the make-up and recent actions of the new board and management.” Specific details were not given. Bema...

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