UK – Denham Capital presents unsolicited offer to Polo

Polo has a 26.3% stake in Caledon and a 29.8% interest in GCM, with the value of the former likely to be greatly enhanced if the ongoing talks lead to an offer for the company. Caledon had said last week that it was in early-stage talks with potential buyers.

Polo said it was reviewing options to ensure that shareholders' rights were protected should a formal offer be made for the company. It also continued to evaluate potential strategic partnerships for its Mongolian mineral interests to expedite funding and development of the assets.

Denham is a global investor with interests in sectors such as power and carbon, natural resources and energy infrastructure.

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