Friday, 7th January 2005 (2826 views)

Glamis has tabled an offer for a takeover of Goldcorp, and is circulating details to Goldcorp shareholders.

Under the terms of the offer, shareholders will receive 0.89 of a Glamis common share for every Goldcorp share they own.

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.

"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.

The combined company will have over 11 million ounces of proven and probable gold reserves.

 

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