Agnico / KL deal could be adding to another delay
Globe says Agnico's Kirkland Lake takeover goes to vote
2021-10-29 08:08 ET - In the News
See In the News (C-AEM) Agnico Eagle Mines Ltd
The Globe and Mail reports in its Friday edition that Sean Boyd, the chief executive officer of Agnico Eagle Mines, says he is confident Agnico's multibillion-dollar bid to acquire Kirkland Lake Gold will succeed, even if he has little idea whether a competing offer will emerge. The Globe's Niall McGee writes that Agnico last month reached a friendly agreement to acquire Kirkland in an all-stock, no-premium takeover valued at more than $13-billion. If it closes, the transaction will see Agnico emerge as the third-biggest gold company in the world, with a portfolio of mines based mainly in Canada and Australia. While the transaction has been warmly received by Agnico shareholders, some have questioned whether Kirkland is selling itself for too low a price. Mining blog IKN reported last month that several other large mining companies, including Barrick, Newmont and Newcrest Mining were also in the running to buy Kirkland. Barrick in particular has been vocal about wanting to increase its footprint in Canada, where it has only one mine. When asked what the odds are of a competitor topping Agnico's bid, Mr. Boyd replied that he has "no idea." He believes the deal will be approved by both sets of shareholders Nov. 26.
Stressing that this is only a big guess....our problems and future may depend on the outcome of the KL deal with Agnico...or Barrick, Newmont, Newcrest.....would not totally surprise me we have another delay after market close today waiting for the big dogs to decide things...or not...Homestone and Fred both reporting that we are just chugging along nicely at the mine site, bringing that yellow stuff out of the ground....my biggest concern is that our current problems squeeze our board into having to sell us short....while the big dogs fight over the main meal, we just sit there wondering who will eventually eat us..