Australia's Predictive rises as Perseus outshines Robex deal with $1.38 billion bid

Shares of Predictive Discovery PDI.AX advance as much as 27.2% to A$0.795, their highest level since mid-May 2012

Stock posts its biggest intraday pct gains since late September 2021

The gold explorer says it has received a A$2.1 billion ($1.38 billion) takeover bid from Perseus Mining PRU.AX, eclipsing its earlier tie-up plan with Canada's Robex Resources RBX.V

PRU's bid offers a 24.5% premium to PRI's last close, valuing shares at A$0.778

PDI's board deems the new bid a "superior proposal"

Proposal also includes a A$37 million unsecured loan to cover any break fee owed to RBX and fund working capital and pre-development costs

Stock up 233.7%, YTD