Agnico-Eagle (NYSE:AEM) (TSE:AEM) announced it has reached an agreement to buy the rest of the shares of Comaplex Minerals (TSE:CMF) it doesn't now own for close to $650 million.
The agreement, which was announced in general last month, will have each shareholder of Comaplex other than Agnico-Eagle receive 0.1576 of an Agnico-Eagle share per Comaplex Minerals share. In addition to that, each Comaplex Minerals shareholder other than Agnico-Eagle and Perfora Investments S.a.r.l. will receive one common share of a new subsidiary for each Comaplex Minerals share.
Perfora owns close to 17.3 percent of Comaplex, while Agnico-Eagle owns 12.3 percent, bringing the cost of the shares to just under $650 million.
Approximately 25.7 percent of Comaplex's shareholders have agreed to the deal at this time. The deal should close in July if approved.
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