Agnico Eagle-Kirkland Lake Gold deal to be finalized in early 2022
Shareholders for Agnico Eagle and Kirkland Lake Gold have voted in favour of establishing a Canadian gold mining powerhouse.
Labelled as a “merger of equals,” both companies announced that its respective shareholders approved the combination at special meetings held Nov. 26. The two companies announced the $13.4-billion transaction back on Sept. 28.
Upon finalizing the deal sometime in early 2022, after receiving final regulatory approval, Agnico Eagle and Kirkland Lake Gold shareholders will own 54 per cent and 46 per cent of the combined company, respectively.
All of the issued and outstanding shares of Kirkland Lake Gold will be acquired by Agnico Eagle for common shares for Agnico for consideration of per Kirkland share equal to $0.79 of an Agnico Eagle. Agnico Eagle shareholders voted 99.86 per cent in favour of the combination. The arrangement was approved by 80 per cent of Kirkland Lake Gold shareholders.
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