A PYMNTS Company

Canada: Alamos Gold and AuRico to merge in $1.5 billion deal

By  |  April 13, 2015

Canadian gold mining companies Alamos Gold and AuRico Gold Inc. are merging in a deal valued at approximately $1.5 billion.

The combined business will have assets including AuRico’s Young-Davidson mine in Canada and Alamos’ Mulatos mine in Sonora, Mexico.

John McCluskey, president and CEO of Alamos Gold, will serve as CEO of the combined business. The board of the combined business will have 10 members, with five directors from each company.

Once the deal is complete, shareholders of both companies will each own about 50 percent of the combined business, which will take the name Alamos Gold.

The boards of both companies unanimously approved the merger.

The transaction, which is expected to close in the second quarter, still needs approval from shareholders.

 

Full Content: Financial Post

 

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.