Perseus rules out revised bid for Predictive Discovery, calls Robex deal inferior

The news: Gold producer Perseus Mining said that it does not intend to submit a revised takeover offer for ASX small cap Predictive Discovery, however the company said it believes that Predictive's preferred merger deal with Canada's Robex Resources remains inferior to Perseus's proposal.

The context: Predictive announced last week that it had amended its agreement with Robex and deemed the new proposal superior to Perseus' offer.

Perseus said this morning that it "does not intend to submit a revised proposal for Predictive" but "reserves the right to vary its position or make a further proposal should circumstances change".

Perseus also noted that under the revised Robex merger, it would see a "marginal improvement" in its ownership in Predictive.