Kirkland Lake Gold Ltd. T.KL

Something Stinks

[Billybabin61]

The announcement came out on September 28 and the pricing identified for the big 1% premium wwere the closing prices of both shares on Sept 24. Well on Sept 24, this was almost at the 52 week low for AEM which was 64.09. Just days before that AEM was trading in the 70's. 

Kirkland was no where near the 52 week low which was $40 as a comparison, and on the 24th closed at 53.89. So this begs the question, is this a coincidence or was that date chosen because it was almost at the rock bottom low for the 52 week trading period for AEM and they wanted to rush the deal while  it was so low???? We got a lousy 1% premium so in other words a slap in the face. I sure hope that someone is looking at this.

[TimeScape]

The so called 1% premium was not based on the closing prices on Sept 24th.  It was based on the weighted average of the last 10 trading days.  Based on the closing prices of Sept 24th, the deal was not only lacking any premium, it was a big discount, more than 9%, to the KL shareholders.  To me, KL is the better company, and the idea of selling at a 9% discount makes no sense. 

[Deuteronomy818]

Won't make a difference, AEM wanted the Cash, KL wanted the reserves to be.  Not sure what share is worthy of holding these days