Due to having some of the best contacts in the business, IKN tonight (Sunday early evening) reveals that Kirkland Lake (KL) is currently marketing itself to the highest bidder. The sales process is in an advanced stage, and while there are at least four companies still in the process one has now emerged as the clear favourite. This deal could be announced at any moment and is the driving force behind KL’s share price out-performance these last two weeks; the serious money has been accumulating in front of M&A.
More details, including the identity of the new favourite to buy Kirkland Lake (KL) in the type of multi-billion dollar deal the sector so desperately needs, for subscribers in IKN644 this Sunday evening. However, I’ll post the note on this exclusive here on the open blog, tomorrow Monday afternoon.
Makuch is selling Kirkland Lake (KL). Good for him.
PS: Full disclosure: No position in KL. And while we’re at it, no position in any of its suitors either, my portfolio tends toward the smaller fish. However I may buy a few KL at the open tomorrow, depending on how it trades, but even then I’d only be flipping a few. These big boy companies are for other people.