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Continental Gold's $1 billion take-out gets boost

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(Kitco News) - Zijin Mining Group's $1 billion proposed acquisition of Continental Gold (TSX:CNL) got a boost when two independent proxy advisory firms announced support for the bid.

Both the Institutional Shareholder Services and Glass Lewis & Co. said they support Zijin's acquisition of Continental. Through a Continental news release filed today, both the proxy firms said the significant premium and favorable market reaction support the deal.

ISS and Glass Lewis are the two-leading independent proxy advisory firms who make voting recommendations to their subscribers, including institutional investors.

Shareholders vote on the acquisition later this month. If approved the deal will be the fourth biggest M&A deal announced in 2019.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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