Mining companies consummate $13.4B transaction announced last September
The “merger of equals” between Agnico Eagle and Kirkland Lake Gold is done. The two mining companies made that official in a Feb. 8 news release. The new and combined company will be called Agnico Eagle Mines Limited.
The two companies, which announced the $13.4-billion transaction back on Sept. 28, cleared the final regulatory hurdle for the combination to take place when Australia’s Foreign Investment Review Board approved the deal. Shareholders for both companies approved the transaction in November.
The combined company will remain listed on the Toronto Stock Exchange and New York Stock Exchange under the ticker “AEM.” Shares of Kirkland Lake Gold will be de-listed from the TSX at the end of trading on Feb. 9 and from the NYSE upon the opening on Feb. 9.
Agnico Eagle issued almost 210 million common shares to former Kirkland Lake Gold shareholders as consideration for their shares. The new Agnico Eagle has a market capitalization of approximately US$22.4 billion.
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