The board of Ghana's Ashanti Goldfields is set to meet October 14 to review the offers received from world number two gold miner AngloGold as well as London-and Nasdaq-listed Randgold Resources, a company source confirmed on Thursday.

Following the meeting, the Ashanti board is likely to request further information from either AngloGold or Randgold or both companies and will most likely make a final recommendation regarding which offer it considers superior by the end of October, the source said.

Randgold is currently offering one of its shares for every two Ashanti shares while AngloGold's offer is for the exchange of 26 of its shares for every 100 Ashanti shares.