Loading ...Kirkland Shares Tumble After $3.7 Billion Deal to Buy Detour
(Bloomberg) — Canada’s Kirkland Lake Gold Ltd. headed for the biggest slump in Toronto trading in more than four years after announcing a C$4.9 billion ($3.7 billion) agreement to buy Detour Gold Corp.
With an all-share deal, Kirkland will take advantage of a record stock price to acquire the company, which operates the Detour Lake mine in northeastern Ontario. The agreement values Detour at C$27.50 a share, a 24% premium to the closing price on Friday.
cont. https://finance.yahoo.com/news/canada-kirkland-buy-gold-rival-123402895.html