The Financial Post reports in its Thursday edition Sprott Asset Management is proceeding with its unsolicited offer for Central GoldTrust and Silver Bullion Trust. The Post's Barry Critchley, writing in Off the Record, says Sprott yesterday launched its offer for all the units of Central GoldTrust and Silver Bullion Trust. Sprott manages two similar funds, Sprott Physical Gold Trust and Sprott Physical Silver Trust. The offer is being done by way of an exchange of units priced at net asset value. The two Sprott funds have market caps of $1.5-billion and $817-million respectively and are larger than than their Central counterparts, which weigh in at $1-billion and $62-million respectively (all figures U.S.). Sprott is constantly on the road marketing its two bullion funds. "You can also expect that should our offer disappear, the discount would go back to what it was before we showed up," said John Wilson, Sprott's chief executive officer. If the funds are positive on the transaction, then a merger is likely; if they say no then Sprott plans to go directly to the unitholders. On April 23, when Sprott indicated its intention, the targets formed a special committee and later made it clear they were not interested.