TSX Steady For Final Hour, Closes Up 180 Pts; Northgate Minerals Shines
Toronto's main stock index remained steady over the final hour and ended Monday's session up close to 180 points.
Canadian gold miner Northgate Minerals (NGX.TO) was easily the most active on the TSX with 28 million shares traded. It added a quarter in value and hit four year highs after agreeing to be bought by AuRico Gold (AUQ.TO) for $1.46 billion. In so doing, Northgate walked away from another deal that would have seen it buy Primero Mining (P.TO). AuRico's offer of 0.365 shares per Northgate share, valued each Northgate share at $5.01, a premium of more than 60% to Friday's close.
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