ExGen Resources Acquires MTB Metals with 94% Shareholder Approval
Written by Emily J. Thompson, Senior Investment Analyst
Source: Globenewswire
- Shareholder Vote Support: At the special meeting on December 11, 2025, 94.31% of MTB shareholders and 94.52% of securityholders voted in favor of ExGen's acquisition plan, demonstrating strong market confidence and endorsement of the transaction.
- Court Approval: Shortly thereafter, the Supreme Court of British Columbia approved the acquisition arrangement, paving the legal pathway for ExGen to acquire MTB, with completion expected on December 19, 2025, further solidifying ExGen's position in the mining sector.
- Clear Transaction Structure: Under the arrangement, each MTB share will be exchanged for 0.286 common shares of ExGen, providing a clear value return for MTB shareholders and enhancing the attractiveness of the deal.
- Optimistic Market Outlook: MTB's copper-gold projects in British Columbia hold significant potential, and ExGen's acquisition will enable it to leverage MTB's resources and projects, accelerating its expansion and development in the mining industry.
Analyst Views on EXG
Wall Street analysts forecast EXG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for EXG is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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About EXG
Eaton Vance Tax-Managed Global Diversified Equity Income Fund (the Fund) is a diversified, closed-end management investment company. The Fund's primary investment objective is to provide current income and gains, with a secondary objective of capital appreciation. Its portfolio of investments includes aerospace and defense, air freight and logistics, automobiles, banks, beverages, building products, biotechnology, construction materials, diversified financial services, electric utilities, electrical equipment, electronic equipment, instruments and components, entertainment, equity real estate investment trusts, food products, healthcare equipment and supplies, healthcare providers and services, hotels, restaurants and leisure, industrial conglomerates, insurance, interactive media and services, Internet and direct marketing retail, information technology services, leisure products, machinery, personal products, and others. Investment adviser of the Fund is Eaton Vance Management.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
