Mining Co. Newmont To Pick Up Fronteer In $2.3B Deal

Law360, New York (February 3, 2011, 12:14 PM EST) -- Newmont Mining Co. said Thursday it would pay $2.3 billion to acquire the outstanding shares in Canadian mineral properties developer Fronteer Gold Inc., giving a boost to its Nevada gold operations.

Fronteer Gold shareholders will get about $14 per share in cash from Newmont, which acquires Fronteer's interest in Nevada's Long Canyon project. The cash consideration represents a 37 percent premium over the closing price of the common shares of Fronteer Gold as of Feb. 2, Newmont said.

Other Fronteer holdings, including exploration properties in Nevada, Turkey...
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