New Agnico Eagle takes flight
Canadian miners Agnico Eagle and Kirkland Lake have successfully completed their 'merger of equals', with the new Agnico Eagle now led by Sean Boyd as executive chairperson, Tony Makuch as CEO and Ammar Al-Joundi as president.
The new Agnico Eagle, which remains listed on the TSX and NYSE, closed at C$62.86 a share on Tuesday, giving the company a market capitalisation of C$15.28-billion.
The shares of Kirkland Lake would be delisted from the TSX and NYSE on Wednesday. Kirkland Lake’s CHESS depositary interests were suspended from trading on the ASX at the close of trading last Wednesday.
The two companies in September last year struck a C$13.4-billion merger, under which Kirkland Lake shareholders received 0.7935 of an Agnico Eagle common share for each share held.
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