M&A
Having earlier this year bagged midtier gold miner Osisko Gold in a C$3.9-billion friendly takeover with joint venture partner Yamana Gold, Canadian gold miner Agnico Eagle was on Monday at it again, agreeing to buy Mexico-focused explorer Cayden Resources for C$205-million in cash and scrip. The NYSE- and TSX-listed Agnico, which operates mines in Canada and Mexico, explained that it would pay Cayden shareholders C$3.79 a share. This represented premiums of 42.5% over the volume weighted average price of Cayden shares on the TSX-V for the 30-day period and 51.9% over the 60-day period, respectively, both ended on Friday.
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