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European Goldfields Haunts Eldorado Gold, Price Slips 90 Cents On Dec 23 Close

Eldorado Gold Corporation (ELD.TO) shares continue to slide, 10 days after it announced that it was acquiring European Goldfields for a price tag of $2.5 billion.

Eldorado shares are currently trading at $13.69, compared to the $15.46 level they were at on Dec 16.

Under the takeover agreement, European Goldfields shareholders will receive 0.85 of an Eldorado share for each their shares.

The offer amounts to $13.08 per share of European Goldfields stock, a premium of about 56.5 percent.

Gold has fallen almost 2% today, and is currently US$1,565 an ounce.

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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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