UPDATE: Hecla Mining Enters $796 Mln Deal to Acquire Aurizon Mines; ARZ Up 3%, But Off Day Highs
Hecla Mining Company has entered into a definitive arrangement agreement with Aurizon Mines Ltd. (ARZ.TO) pursuant to which Hecla will acquire all of the issued and outstanding common shares of Aurizon in a transaction with a total value of approximately C$796 million.
Hecla will acquire all of the outstanding common shares of Aurizon for C$4.75 per share. Each holder of Aurizon common shares may elect to receive either C$4.75 in cash or 0.9953 of a Hecla share.
ARZ is up 3% to near $4.50 but off a day high $4.60.