Goldcorp Launches Take-Over Bid For Exeter Resource

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Shares of Goldcorp ( GG ) were barely higher pre-market Thursday after the gold miner said it launched a take-over bid for all Exeter Resource ( XRA ) shares that is supported by the board of Exeter.

The company said Exeter stockholders will be entitled to receive 0.12 of a Goldcorp share for each Exeter share, which represents a 67% premium based on Goldcorp's and Exeter's closing prices on the Toronto Stock Exchange on March 27. The offer will close at 5:00 p.m. ET on May 26 unless it is extended or withdrawn.

The total consideration for all Exeter shares is approximately CAD247 million ($183 million).

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , ETFs
Referenced Symbols: GG , XRA

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