canadian: Frank Gunn / THE CANADIAN PRESS By The Canadian Press Fri., Nov. 11, 2016 Kirkland Lake Gold Inc. has identified the unsolicited alternative joint bids valued at 1.44 billion it rejected from two miners it deemed inferior to a deal it previously accepted with Newmarket Gold Inc, according to The Toronto Star. Responding to market rumours after its shares were halted Friday on the Toronto Stock Exchange, Kirkland Lake confirmed that Gold Fields Netherlands Services B.V. and Silver Standard Resources Inc. submitted several proposals in cash and Silver Standard shares. Shares for Kirkland Lake Gold Inc. were halted on the Toronto Stock Exchange on Friday, leading the mining company to confirm that it rejected unsolicited joint bids valued at 1.44 billion in favour of a deal with Newmarket Gold Inc. In an Oct. 28 proxy circular, Kirkland Lake said it receive alternative bids but didn t identify the proponents. Consequently, Kirkland Lake said under terms of the deal with Newmarket, it is prevented from holding discussions with the rival bidders or providing them any access to information to conduct due diligence. The Toronto-based miner said Friday that after receiving legal and financial advice it determined the revised proposal was not financially superior to a deal with Vancouver-based Newmarket announced in September.
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