In First Major Move Under New CEO, Eldorado Gold Pays 50% Premium for Junior Miner Integra Gold
On May 15, Eldorado announced the acquisition of the roughly 90% it does not already own of Integra Gold. The offer of CAD 1.2125 per Integra share gives shareholders the option of all cash, all Eldorado equity, or a combination of the two. The offer represents a 52% premium to the May 12 closing price and 46% premium to the 20-day volume-weighted average price. The acquisition represents the first major strategic move of Eldorado’s new CEO George Burns, who took the helm on April 28.Integra’s ...
Eldorado Gold is engaged in the exploration, development, mining and production of gold and other mining resources in Brazil, China, Turkey and Greece.
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