Sprott Announces $898m Hostile Bid For Physically-Backed Gold & Silver Funds – Kitco

4/23/2015 – In an attempt to better position its products, Sprott Asset Management announced an $898 million hostile bid for two competing funds backed by gold and silver.

According to the company’s latest press release, Sprott intends to acquire the Central Gold Trust (GTU) and Silver Bullion Trust (SBT), two funds similar to its own physical gold and silver funds. The offer would entail GTU and SBT unitholders to trade their units for units into Sprott’s funds.

“Sprott today announced that it intends … read more

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