Agnico Eagle and O3 Mining Welcome Gold Fields' Support of Their Friendly Premium Transaction
Agnico Eagle Mines (NYSE: AEM) and O3 Mining have announced Gold Fields' support for their takeover bid. Agnico Eagle is offering to acquire all outstanding O3 Mining common shares for $1.67 per share in cash, representing a 57% premium to the 20-day volume weighted average price ending December 11, 2024.
Gold Fields, O3 Mining's largest shareholder with approximately 17% ownership, has agreed to tender its shares. Including Gold Fields' commitment, Agnico Eagle has secured lock-up agreements with shareholders owning about 39% of outstanding shares, including all directors and officers. The offer has received unanimous recommendation from O3 Mining's Board of Directors and Special Committee of independent directors.
Agnico Eagle Mines (NYSE: AEM) e O3 Mining hanno annunciato il supporto di Gold Fields per la loro offerta di acquisizione. Agnico Eagle offre di acquisire tutte le azioni ordinarie emesse di O3 Mining per $1.67 per azione in contante, rappresentando un premio del 57% rispetto al prezzo medio ponderato per volume di 20 giorni riportato il 11 dicembre 2024.
Gold Fields, il maggiore azionista di O3 Mining con circa il 17% di partecipazione, ha accettato di cedere le sue azioni. Includendo l'impegno di Gold Fields, Agnico Eagle ha ottenuto accordi di lock-up con azionisti che possiedono circa il 39% delle azioni in circolazione, inclusi tutti i membri del consiglio e funzionari. L'offerta ha ricevuto una raccomandazione unanime dal Consiglio di Amministrazione di O3 Mining e dal Comitato Speciale di amministratori indipendenti.
Agnico Eagle Mines (NYSE: AEM) y O3 Mining han anunciado el apoyo de Gold Fields para su oferta de adquisición. Agnico Eagle está ofreciendo adquirir todas las acciones ordinarias de O3 Mining por $1.67 por acción en efectivo, lo que representa una prima del 57% sobre el precio promedio ponderado por volumen de 20 días que finaliza el 11 de diciembre de 2024.
Gold Fields, el mayor accionista de O3 Mining con aproximadamente el 17% de propiedad, ha acordado ofrecer sus acciones. Incluyendo el compromiso de Gold Fields, Agnico Eagle ha asegurado acuerdos de lock-up con accionistas que poseen aproximadamente el 39% de las acciones en circulación, incluidos todos los directores y funcionarios. La oferta ha recibido una recomendación unánime de la Junta Directiva de O3 Mining y del Comité Especial de directores independientes.
아그니코 이글 광산 (NYSE: AEM)과 O3 광산은 골드 필드의 인수 제안 지원을 발표했습니다. 아그니코 이글은 O3 광산의 모든 보통주를 현금으로 주당 $1.67에 인수하겠다고 제시했으며, 이는 2024년 12월 11일 기준으로 20일 거래량 가중 평균 가격에 비해 57% 프리미엄을 나타냅니다.
골드 필드는 O3 광산의 최대 주주로 약 17%의 지분을 보유하고 있으며, 자신의 주식을 제출하기로 동의했습니다. 골드 필드의 참여를 포함하여, 아그니코 이글은 이사 및 임원 모두를 포함하여 약 39%의 발행 주식을 보유한 주주들과 락업 계약을 체결했습니다. 이 제안은 O3 광산의 이사회와 독립 이사 특별 위원회로부터 만장일치의 추천을 받았습니다.
Agnico Eagle Mines (NYSE: AEM) et O3 Mining ont annoncé le soutien de Gold Fields à leur offre d'achat. Agnico Eagle propose d'acquérir toutes les actions ordinaires d'O3 Mining pour 1,67 $ par action en espèces, représentant une prime de 57% par rapport au prix moyen pondéré par volume sur 20 jours se terminant le 11 décembre 2024.
Gold Fields, le plus grand actionnaire d'O3 Mining avec environ 17% de participation, a accepté de céder ses actions. En incluant l'engagement de Gold Fields, Agnico Eagle a sécurisé des accords de lock-up avec des actionnaires représentant environ 39% des actions en circulation, y compris tous les directeurs et dirigeants. L'offre a reçu une recommandation unanime du Conseil d'administration d'O3 Mining et du Comité spécial des administrateurs indépendants.
Agnico Eagle Mines (NYSE: AEM) und O3 Mining haben die Unterstützung von Gold Fields für ihr Übernahmeangebot angekündigt. Agnico Eagle bietet an, alle ausstehenden Stammaktien von O3 Mining für 1,67 $ pro Aktie in bar zu erwerben, was eine 57%ige Prämie gegenüber dem 20-tägigen volumengewichteten Durchschnittspreis zum 11. Dezember 2024 darstellt.
Gold Fields, der größte Aktionär von O3 Mining mit etwa 17% Anteil, hat zugestimmt, seine Aktien anzubieten. Einschließlich des Engagements von Gold Fields hat Agnico Eagle Lock-Up-Vereinbarungen mit Aktionären gesichert, die etwa 39% der ausstehenden Aktien besitzen, einschließlich aller Direktoren und Führungskräfte. Das Angebot erhielt einstimmige Empfehlungen vom Vorstand von O3 Mining und dem Sonderausschuss der unabhängigen Direktoren.
- 57% premium offered over 20-day VWAP
- Secured support from largest shareholder (Gold Fields - 17% ownership)
- Lock-up agreements with 39% of shareholders
- Unanimous board recommendation
- None.
Insights
(All amounts expressed in Canadian dollars unless otherwise noted)
Gold Fields owns approximately
The offer price of
How to Tender Your Shares; Postal Strike
Only O3 Mining shareholders who tender their Common Shares will receive the cash consideration of
Shareholder type: | How do I tender my Common Shares to the Agnico Eagle Offer? |
Beneficial Most O3 Mining shareholders are beneficial shareholders. This means your Common Shares are held through a broker, bank or other financial intermediary, and you do not have a share certificate or DRS advice. | Contact your bank or your broker immediately and instruct them to tender your Common Shares to the Offer. |
Registered You are a registered shareholder if you hold your Common Shares directly and may have a share certificate or DRS advice. | Contact Laurel Hill Advisory Group: |
In light of the Canada Post labour strike, shareholders are encouraged to stay up to date on the Offer by visiting: https://www.agnicoeagle.com/Offer-for-O3-Mining/default.aspx. Shareholders are also asked not to mail in any Letter of Transmittal or share certificates. Instead, shareholders may contact Laurel Hill Advisory Group.
About O3 Mining Inc.
O3 Mining Inc. is a gold explorer and mine developer in
About Agnico Eagle Mines Limited
Agnico Eagle is a Canadian based and led senior gold mining company and the third largest gold producer in the world, producing precious metals from operations in
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation that is based on current expectations, estimates, projections, and interpretations about future events as at the date of this news release. Forward-looking information and statements are based on estimates of management by O3 Mining and Agnico Eagle, at the time they were made, and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information or statements. Forward-looking statements in this news release include, but are not limited to, statements regarding: the Offer, including the anticipated timing of commencement and expiration, mechanics, funding, completion, settlement, results and effects of the Offer, the expected outcomes of completion of the transaction and the other benefits of the transaction. Material factors or assumptions that were applied in formulating the forward-looking information contained herein include, without limitation, the expectations and beliefs of Agnico Eagle and O3 Mining that the Offer will be made in accordance with the definitive support agreement in respect of the Offer and will be successful, that all required regulatory consents and approvals will be obtained and all other conditions to completion of the transaction will be satisfied or waived. Agnico Eagle and O3 Mining caution that the foregoing list of material factors and assumptions is not exhaustive. Although the forward-looking information contained in this news release is based upon what Agnico Eagle and O3 Mining believe, or believed at the time, to be reasonable expectations and assumptions, there is no assurance that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither O3 Mining, nor Agnico Eagle nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. O3 Mining and Agnico Eagle do not undertake, and assume no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by applicable law. These statements speak only as of the date of this news release. Nothing contained herein shall be deemed to be a forecast, projection or estimate of the future financial performance of Agnico Eagle or any of its affiliates or O3 Mining.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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SOURCE Agnico Eagle Mines Limited
FAQ
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