Newspaper article The Canadian Press

Kirkland Lake Bids to Buy St Andrew Goldfields; Deal Values Target at $178M

Newspaper article The Canadian Press

Kirkland Lake Bids to Buy St Andrew Goldfields; Deal Values Target at $178M

Article excerpt

Kirkland Lake to buy St Andrew Goldfields

--

TORONTO - Kirkland Lake Gold Inc. (TSX:KGI) plans to acquire St Andrew Goldfields Ltd. (TSX:SAS) in an all-stock deal that will create an Ontario-focused, intermediate gold producer.

The companies said in a joint announcement after markets closed that St Andrew shareholders will receive 0.0906 of a common share of Kirkland Lake for each St Andrew common share, or the equivalent of 47 cents per share based on Monday's closing price for Kirkland stock.

The exchange ratio was also a 46 per cent premium based on both companies' 20-day, volume-weighted average prices and a 25 per cent premium to St Andrew's closing price on Monday, they said.

It also implies a total equity value of approximately $178 million on a fully diluted in-the-money basis. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.