(Updates with Allied Gold's comment in the last paragraph.)
Hong Kong-listed Zijin Gold International's $4 billion takeover of Canada's Allied Gold (AAUC) is facing delays because of opposition from Beijing regulators, the Financial Times reported Friday, citing people familiar with the matter.
China's National Development and Reform Commission questioned the premium Zijin is paying, as well as the geopolitical risks associated with Allied's gold mine in Mali, the report said.
The agreement had a closing deadline of Friday, which can be extended if both sides agree, the report said.
"There is strong industrial and commercial logic for this transaction, and both parties continue to work diligently towards closing," Allied said in an emailed statement to.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Price: $26.01, Change: $-1.17, Percent Change: -4.30%