Hopefully, this is the start of a small cap aquistion run. It may be the only hope for some juniors.
Thank you Weather Investments II SARL (whoever you are), btw...
LA MANCHA REACHES DEFINITIVE AGREEMENT TO BE ACQUIRED BY WEATHER II AT A PRICE OF $3.50 PER SHARE
La Mancha Resources Inc. has entered into a support agreement with Weather Investments II SARL, pursuant to which Weather II has agreed, subject to the terms of the support agreement, to offer to purchase all outstanding common shares of La Mancha by way of a takeover bid at a price of $3.50 per share in cash. Weather II is one of the many successful businesses managed by Naguib Sawiris. The wider Sawiris family of Egypt have substantial indirect interests in existing operations in the telecommunications, construction and fertilizers, cement, real estate, and hotel development industries.
The offer represents a premium of approximately 55.6 per cent to the closing price of the company's common shares on the Toronto Stock Exchange on July 12, 2012, immediately prior to the announcement of the offer and a premium of approximately 43.1 per cent to the 20-day volume-weighted average price as at July 12, 2012, of the company's common shares on the TSX.