Markets

UPDATE: Alamos Gold Commences Offer to Acquire Aurizon Mines for $780 Million; Aurizon Now Up 33%, Alamos Still in the Red

Alamos Gold Inc. (AGI.TO) has commenced an offer to acquire Aurizon Mines Ltd. (ARZ.TO) for approximately C$780 million in cash and shares. The offer will remain open until 5:00 p.m. (Toronto time) on February 19, 2013 unless withdrawn or extended.

Each Aurizon shareholder can elect to receive consideration per Aurizon share of either C$4.65 in cash or 0.2801 of an Alamos share, subject in each case to pro-ration based on a maximum cash consideration of C$305 million and maximum number of Alamos shares issued of 23.5 million.

AGI has dropped 11% to $15.08, with volumes of over 2 million. ARZ is higher by 33% at $4.55, with volumes of over 14 million.

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

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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

Other Topics

Commodities

Latest Markets Videos