Sept 29 Kirkland Lake Gold Inc agreed
to take over Newmarket Gold Inc in an all-stock deal
valued at about C$1 billion ($764 million).
Kirkland Lake Gold will own about 57 percent of the combined
company, which will be known as Kirkland Lake Gold, the
companies said on Thursday.
Newmarket shareholders will own the rest of the shares.
Newmarket shareholders will receive 0.475 shares of the
combined company for each share held. Kirkland Lake Gold shares
will be exchanged at a ratio of 2.1053 Newmarket shares per
Kirkland Lake Gold share, the companies said.
The exchange ratio implies consideration of C$5.28 per
Newmarket share, a premium of 9.4 percent to Newmarket's close
on Wednesday, the companies said.
($1 = 1.3091 Canadian dollars)
(Reporting by Arathy S Nair in Bengaluru)