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Canadian miner strikes $2.6b takeover deal for Alacer Gold


Australian-listed miner Alacer Gold will be taken over by Canada’s SSR Mining under a $2.6 billion deal announced on Tuesday, as the coronavirus pandemic and economic uncertainty send the price of gold soaring.

The proposed tie-up is the latest in a string of mergers and acquisitions across the global gold sector and will lead to the creation of a new $6 billion company based in Denver, Colorado, with operations spanning four countries.

Alacer shareholders will receive 0.3246 SSR Mining shares for each share held, implying a value of C$8.19 ($9.14) per Alacer share, the companies said on Tuesday.

“The combination of Alacer and SSR Mining will create a diversified portfolio of high-quality, long-life mines across four mining-friendly jurisdictions,” Alacer Gold chief executive Rodney Antal said.

The coronavirus pandemic has sent the price of gold soaring to its highest levels for several years.

The coronavirus pandemic has sent the price of gold soaring to its highest levels for several years.Credit:



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