The Vault Minerals Ltd (ASX: VAU) share price is up 11% after the ASX gold share announced it had received a larger takeover offer.
Vault Minerals describes itself as an intermediate gold producer with a diversified portfolio, with three major gold operations in Western Australia and an advanced gold production restart project in Ontario, Canada.
Superior takeover offer
Vault Minerals – a miner now worth more than $5 billion dollars – announced it has received a binding proposal from Genesis Minerals Ltd (ASX: GMD) to merge.
Genesis Minerals has offered 0.7629 new Genesis shares plus $0.475 of cash for every Vault share.
Under this proposal, Genesis would provide a mix and match facility which would allow Vault share owners to elect to receive more or less cash or shares, subject to a maximum aggregate cash and share consideration of around $500 million and approximately 803.4 million Genesis shares respectively.
Vault Minerals said the Genesis Minerals proposal outlines the opportunity to realise unique operational and administrative synergies.
The Genesis proposal values Vault at $5.6 billion, or a Vault Minerals share price of $5.274, based on the last closing price of Genesis shares on 3 July 2026.
This offer represents a premium of 14.5% to the implied offer price of $4.61 within the Regis Resources Ltd (ASX: RRL) bid based on Regis Resource’s share price on 3 July 2026.
It also represents a premium of 15.7% to the Vault share price on 3 July 2026 and a 17.25% premium to the last closing Vault share price on 4 May 2026, which was the last closing price before the announcement of the Regis takeover.
Vault noted that the Genesis offer is not subject to any financing or due diligence conditions and is substantially on similar terms to the Regis Resources proposal.
What now?
Vault said that after consulting with its financial advisors, decided that the Genesis proposal is a superior offer. Regis now has a five business day matching right period to provide a matching or superior offer.
Final thoughts on the Vault Minerals share price
Considering the business now has multiple bidders interested in the business, I’d be very happy as a shareholder and I wouldn’t be surprised to see Regis come back with a higher bid than before.
There’s not a large amount of gains on offer between the current price and the offer price on paper, particularly considering the Genesis Minerals share price is down 4% today. So, I’m not looking to buy Vault Mineral shares, but if I owned shares I’d be happy with the situation.
For now, there are other ASX growth shares I’d rather buy today.
