AuStar Gold: White Rock makes a play for AuStar

ASX-listed White Rock Minerals on Thursday announced plans to acquire fellow listed AuStar Gold, offering shareholders 0.78 White Rock shares for every AuStar share held. The offer implied a price of 43.5c each for AuStar's shared, representing a premium of 47% on AuStar's last trading price and a 56% premium to the company's one-month volume weighted average share price.