{"id":1151601,"date":"2019-11-25T07:36:06","date_gmt":"2019-11-25T13:36:06","guid":{"rendered":"https:\/\/www.mining.com\/?p=1007591"},"modified":"2019-11-25T07:36:06","modified_gmt":"2019-11-25T13:36:06","slug":"kirkland-lake-buying-detour-gold-in-stock-deal-worth-3-7-billion","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1151601","title":{"rendered":"Kirkland Lake buying Detour Gold in stock deal worth $3.7-billion"},"content":{"rendered":"<p>Canada\u2019s Kirkland Lake Gold (TSX, NYSE: KL) (ASX:KLA) is <a href=\"https:\/\/www.klgold.com\/news-and-media\/default.aspx\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">buying smaller rival Detour Gold<\/a> in an all-stock deal worth C$4.89 billion ($3.7 billion) growing the already large list of mergers and acquisitions to have swept the sector this year.<\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>Kirkland is offering 0.4343 shares to Detour Gold<br \/>\nshareholders for each share held, which represents a premium of 23.8% to<br \/>\nFriday&#8217;s closing price.<\/p>\n<p>The deal, which will help the Toronto-based miner scale up<br \/>\nits operations and boost reserves, is expected to generate pre-tax savings of<br \/>\nabout $75 to $100 million per year, the companies said in the statement.<\/p>\n<p>Once the transaction is completed, Kirkland Lake Gold and<br \/>\nDetour Gold shareholders will own about 73% and 27%, respectively, of the<br \/>\nmerged company.<\/p>\n<p><em>More to come\u2026<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Toronto-based miner is offering 0.4343 shares to Detour&#8217;s shareholders for each share held &mdash; a premium of 23.8% to Friday&#8217;s closing price.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[2849,949,369,4,391],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1151601"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1151601"}],"version-history":[{"count":8,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1151601\/revisions"}],"predecessor-version":[{"id":1151623,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1151601\/revisions\/1151623"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1151601"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1151601"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1151601"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}