Announced
Financials
Tags
Gold Mining
Majority
Pending
gold
Domestic
Scheme
Australia
Friendly
Acquisition
Public
Single Bidder
Merger
Synopsis
Northern Star Resources, an Australian gold producer, agreed to merge with Saracen Mineral, a gold growth company with three mines on the doorstep of Kalgoorlie, in a $12bn deal. Upon implementation of the scheme, Northern Star shareholders will own 64% of the combined entity and Saracen shareholders will own the remaining 36%. “This is one of the most logical and strategic M&A transactions the mining industry has seen. The savings, the synergies and the growth opportunities it will generate make the transaction extremely compelling. In short, it is a unique opportunity for Saracen shareholders unlikely to be replicated via any other avenue,” Raleigh Finlayson, Saracen Mineral Managing Director.
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