Sprott's hostile bid for Canada metal trusts gains ground-source

August 18, 2015 7:26 PM

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Aug 18 Nearly a third of investors in precious metals funds Central GoldTrust and Silver Bullion Trust have agreed to a bid from Canada's Sprott Asset Management, a person familiar with the offer said on Tuesday.

Sprott, a Toronto-based money manager, has been trying to wrestle control of Central GoldTrust and Silver Bullion Trust from Central Fund of Canada Ltd in a rare example of a hostile bid in Canada.

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