Yamana Gold's $404M Extorre Buy Boosts Argentina Assets

Law360, New York (June 18, 2012, 1:23 PM EDT) -- Canadian mining firm Yamana Gold Inc. will fork over CA$414 million (US$404 million) for Extorre Gold Mines Ltd. in a cash-and-stock deal that beefs up its gold-rich assets in Argentina, Yamana said Monday.

Under the deal's terms, each Extorre investor will receive a $3.50 cash payout for each of their shares. They'll also get a small portion of a Yamana share for each Extorre unit, bringing the total per-share offer value to about $4.26, a 54 percent premium over the average Extorre closing price for the...
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