UPDATE: Primero Mining to Acquire Cerro Resources; Cerro Almost Hits Year Highs, Primero in the Red

By Midnight Trader,  December 13, 2012, 09:34:26 AM EDT

Primero Mining Corp. (P.TO) has signed a definitive agreement to acquire all of the issued and outstanding common shares of Cerro Resources NL (CJO.V).

Under the terms of the Arrangement, each Cerro shareholder will receive 0.023 of a Primero common share for each Cerro common share held.

Both companies' Boards of Directors have determined that the proposed transaction is fair and reasonable to their respective shareholders based on a number of factors.

Primero shares are in the red, down nearly 5% to $6.31 but are closer to year high $7.89. CJO is in the green, up 37% to 13 cents, almost hitting year high $0.145.




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


This article appears in: Investing, Commodities

Referenced Stocks:



Latest News Video



Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.43 0.07  0.52%
CSCO $ 24.24 0.35  1.48%
MSFT $ 34.87 0.79  2.32%
F $ 15.08 0.44  3.01%
ARUN $ 13.10 4.51  25.61%
SIRI $ 3.50 0.05  1.45%
GE $ 23.46 0.19  0.82%
S $ 7.32 0.04  0.55%