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Friday, 7th January 2005 (4231 views)

Glamis has tabled an offer for a takeover of Goldcorp, and is circulating details to Goldcorp shareholders.<br/><br/>Under the terms of the offer, shareholders will receive 0.89 of a Glamis common share for every Goldcorp share they own.<br/><br/>Kevin McArthur, president and chief executive officer of Glamis Gold, believed that the offer represented good business for Goldcorp shareholders: "With this offer, Goldcorp shareholders will receive both a significant premium on their investment and the opportunity to participate in a premier gold producer created by the combination of Glamis and Goldcorp. <br/><br/>"The new entity combines the size and market liquidity of a senior producer with extremely low costs and the growth potential of a mid-tier company," he added.<br/><br/>The combined company will have over 11 million ounces of proven and probable gold reserves.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=7508978"/>

 

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