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 The offer will close at 5:00 p.m. ET on May 26 unless it is extended or withdrawn.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.

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


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