Equinox Gold agrees to buy Calibre Mining

Calibre holders were offered 0.31 Equinox shares per share, an all-share deal worth about C$2.6bn ($1.8bn). The combination creates Canada’s second-largest gold producer, with Greenstone in Ontario and Valentine in Newfoundland. The ratio was later raised to 0.35.

Why it matters. In a merger with little premium, the buyer may have to sweeten terms to win the target’s vote.

Source

MINING.COM

In the course

Module 9: The M&A process