The proposed acquisition of DEG by Northern Star Resources (ASX:NST, Buy PT: A$24.10) has moved one step closer with a Scheme Booklet now registered and an Independent Expert concluding the proposed transaction to be fair and reasonable for DEG shareholders. We expect the proposed Scheme of Arrangement will be voted through in the Scheme Meeting booked for April 16th. We continue to align our DEG Price Target with our NST Price Target, resulting in a $2.87 Price Target ($2.90 prior). Buy Recommendation maintained. Assuming the proposed transaction concludes, DEG shareholders will receive 0.119 NST shares for every DEG share held. We currently assign a A$24.10 price target (42% TSR) for NST with a Buy recommendation.
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