MW : Eldorado to acquire Sino Gold in $1.8 bln deal
LONDON (MarketWatch) -- Eldorado Gold Corp. (CA:ELD 11.96, +0.31, +2.66%) (EGO 11.02, +0.13, +1.19%) said Wednesday it's agreed to acquire Australia's Sino Gold Mining (AU:SGX 5.97, +0.05, +0.84%) in an all stock deal valued at 2.2 billion Australian dollars ($1.8 billion). Sino Gold directors unanimously recommended the deal, under which investors will receive 0.55 Eldorado share for every Sino Gold share they hold. The deal represents a 21.3% premium to the closing price on Tuesday. Eldorado said the deal would created a firm with a market capitalization of roughly 6.4 billion Canadian dollars ($5.9 billion) and would be the leader among international gold producers in China. It added it will seek an Australian listing for Eldorado shares.
