(RTTNews) - Sierra Metals Inc. (SMT.TO) said that a majority of its shareholders have committed not to tender their shares in the event that Alpayana S.A.C. formalizes its proposed unsolicited all-cash take-over bid to acquire all of the issued and outstanding common shares of Sierra Metals for C$0.85 per share.
The Company and its advisors believe that the take-over bid as announced would not succeed, and that proceeding with a formal bid would be an unproductive use of time and resources for both Alpayana and Sierra Metals.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
