Agnico Eagle and O3 Mining Issue Final Reminder to Tender to Agnico Eagle's All Cash 58% Premium Offer Expiring January 23, 2025
Agnico Eagle Mines (NYSE: AEM) has issued a final reminder for O3 Mining shareholders to tender their shares to its all-cash offer of $1.67 per share, representing a 58% premium to O3 Mining's closing price on December 11, 2024. The offer expires on January 23, 2025 at 11:59 pm EST.
The offer has received strong support, with approximately 39% of outstanding shares already secured through lock-up agreements with directors, officers, and major shareholders. The O3 Mining board unanimously recommends shareholders accept the offer.
If conditions are met, Agnico Eagle will process payments by January 28, 2025. The company intends to acquire 100% of remaining shares in a second-step transaction, expected to close in Q2 2025, without requiring a 90% tender threshold.
Agnico Eagle Mines (NYSE: AEM) ha inviato un ultimo promemoria agli azionisti di O3 Mining per tenderizzare le loro azioni alla sua offerta interamente in contante di 1,67 $ per azione, che rappresenta un premio del 58% rispetto al prezzo di chiusura di O3 Mining dell'11 dicembre 2024. L'offerta scade il 23 gennaio 2025 alle 23:59 EST.
L'offerta ha ricevuto un forte supporto, con circa il 39% delle azioni in circolazione già assicurato attraverso accordi di lock-up con amministratori, dirigenti e azionisti di controllo. Il consiglio di amministrazione di O3 Mining raccomanda all'unanimità agli azionisti di accettare l'offerta.
Se le condizioni vengono soddisfatte, Agnico Eagle elaborerà i pagamenti entro il 28 gennaio 2025. La società intende acquisire il 100% delle azioni rimanenti in una transazione successiva, prevista per chiudere nel secondo trimestre del 2025, senza richiedere una soglia di adesione del 90%.
Agnico Eagle Mines (NYSE: AEM) ha emitido un último recordatorio a los accionistas de O3 Mining para que presenten sus acciones a su oferta totalmente en efectivo de 1.67 $ por acción, lo que representa una prima del 58% con respecto al precio de cierre de O3 Mining del 11 de diciembre de 2024. La oferta expira el 23 de enero de 2025 a las 11:59 p.m. EST.
La oferta ha recibido un fuerte apoyo, con aproximadamente el 39% de las acciones sobresalientes ya aseguradas a través de acuerdos de bloqueo con directores, funcionarios y accionistas mayoritarios. La junta de O3 Mining recomienda unánimemente a los accionistas que acepten la oferta.
Si se cumplen las condiciones, Agnico Eagle procesará los pagos antes del 28 de enero de 2025. La empresa tiene la intención de adquirir el 100% de las acciones restantes en una transacción de segundo paso, prevista para cerrarse en el segundo trimestre de 2025, sin requerir un umbral de aceptación del 90%.
아그니코 이글 마인스 (NYSE: AEM)는 O3 마이닝 주주들에게 주식을 주당 1.67달러의 현금 제안에 제출하라는 최종 알림을 보냈습니다. 이는 2024년 12월 11일 O3 마이닝의 종가에 비해 58%의 프리미엄을 나타냅니다. 제안은 2025년 1월 23일 오후 11시 59분 EST에 만료됩니다.
이번 제안은 강력한 지지를 받고 있으며, 약 39%의 발행 주식이 이미 이사, 임원 및 주요 주주와의 록업 계약을 통해 확보되었습니다. O3 마이닝 이사회는 주주들에게 제안을 수락할 것을 전 unanimously recommend합니다.
조건이 충족되면 아그니코 이글은 2025년 1월 28일까지 지급을 처리할 것입니다. 회사는 2025년 2분기에 마무리될 두 번째 단계 거래를 통해 남은 주식 100%를 인수할 계획이며, 90%의 수요 기준을 요구하지 않습니다.
Agnico Eagle Mines (NYSE: AEM) a envoyé un dernier rappel aux actionnaires d'O3 Mining pour leur demander de soumettre leurs actions à son offre entièrement en espèces de 1,67 $ par action, représentant une prime de 58 % par rapport au prix de clôture d'O3 Mining du 11 décembre 2024. L'offre expire le 23 janvier 2025 à 23h59 EST.
L'offre a reçu un fort soutien, avec environ 39 % des actions en circulation déjà sécurisées par des accords de blocage avec des administrateurs, des dirigeants et des actionnaires majeurs. Le conseil d'administration d'O3 Mining recommande à l'unanimité aux actionnaires d'accepter l'offre.
Si les conditions sont remplies, Agnico Eagle traitera les paiements d'ici le 28 janvier 2025. La société prévoit d'acquérir 100 % des actions restantes dans une seconde opération, qui devrait être finalisée au deuxième trimestre de 2025, sans exiger de seuil d'adhésion de 90 %.
Agnico Eagle Mines (NYSE: AEM) hat eine letzte Erinnerung an die Aktionäre von O3 Mining herausgegeben, um ihnen zu empfehlen, ihre Aktien zu dem vollständigen Barangebot von 1,67 $ pro Aktie einzureichen, was einem Aufschlag von 58 % auf den Schlusskurs von O3 Mining am 11. Dezember 2024 entspricht. Das Angebot läuft am 23. Januar 2025 um 23:59 Uhr EST aus.
Das Angebot hat starken Rückhalt gefunden, mit ungefähr 39 % der ausstehenden Aktien, die bereits durch Lock-up-Vereinbarungen mit Direktoren, Führungskräften und Hauptaktionären gesichert sind. Der Vorstand von O3 Mining empfiehlt einstimmig den Aktionären, das Angebot anzunehmen.
Sofern die Bedingungen erfüllt sind, wird Agnico Eagle die Zahlungen bis zum 28. Januar 2025 abwickeln. Das Unternehmen beabsichtigt, 100% der verbleibenden Aktien in einer zweiten Übertragungsstufe zu erwerben, die im zweiten Quartal 2025 abgeschlossen werden soll, ohne eine 90%-Zustimmungsgrenze zu verlangen.
- 58% premium offered over O3 Mining's December 11, 2024 closing price
- 39% of shares already secured through lock-up agreements
- Unanimous board recommendation for the tender offer
- No 90% tender threshold requirement for complete acquisition
- None.
Insights
The $1.67 per share all-cash acquisition offer from Agnico Eagle for O3 Mining represents a strategic move in the mining sector. The
The transaction structure is particularly noteworthy - Agnico Eagle's ability to proceed with a second-step transaction without requiring
Looking at the broader implications, this acquisition aligns with ongoing consolidation trends in the precious metals mining sector, where major producers are leveraging strong balance sheets to acquire exploration assets in stable jurisdictions. The all-cash nature of the deal also reflects Agnico's robust financial position and confidence in asset valuation.
This acquisition represents a calculated expansion of Agnico Eagle's project pipeline and regional consolidation strategy. The premium valuation suggests high strategic value in O3 Mining's asset portfolio, particularly in the context of their Quebec-focused exploration properties which complement Agnico's existing operational footprint in the region.
The timing of this transaction is strategic, capitalizing on current market conditions where junior mining companies face challenging capital markets, while major producers maintain strong balance sheets. For retail investors, this deal exemplifies the potential value creation through strategic M&A in the mining sector, particularly for companies with quality assets in tier-one jurisdictions.
The unanimous board recommendation and substantial shareholder support through lock-up agreements validate the deal's fundamental value proposition. The transaction's structure, including the second-step acquisition mechanism, provides a clear path to full ownership, which is important for efficient integration and development planning.
- Offer is expiring on January 23, 2025
- Agnico is committed to the Offer at
$1.67 58% premium to O3 Mining's closing price on December 11, 2024 39% of outstanding shares of O3 Mining signed lock-up agreements to tender to the Offer- Offer unanimously recommended by Board and Special Committee of O3 Mining
- Questions or Need Assistance? Contact Laurel Hill Advisory Group at 1-877-452-7184 or email assistance@laurelhill.com
Tender Shares for Prompt Payment
O3 Mining shareholders are strongly encouraged to tender their Common Shares to the Offer prior to January 23, 2025 to ensure prompt receipt of the Offer price of
All directors and officers of O3 Mining and several of O3 Mining's largest shareholders, representing approximately
O3 Mining shareholders are encouraged to tender their Common Shares as soon as possible to ensure intermediaries have sufficient time to process their requests. The board of directors of O3 Mining continues to unanimously recommend that O3 Mining shareholders tender their Common Shares to the Offer.
Agnico Eagle's Intentions
Agnico is committed to the Offer at
How do I tender my Common Shares?
Shareholder Type | How do I tender my Common Shares? |
Beneficial Shareholders – Most shareholders | Contact your bank or your broker |
Registered Shareholders – You are a | Contact Laurel Hill Advisory Group: Phone: 1-877-452-7184 (toll-free) |
If you have any questions or require any assistance with tendering your Common Shares to the Offer, please contact our Depositary and Information Agent:
Laurel Hill Advisory Group
North American Toll-Free: 1-877-452-7184
Outside
E-mail: assistance@laurelhill.com
Visit us at www.agnicoeagle.com/Offer-for-O3-Mining to receive the most up-to-date information about the Offer.
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 expiration, mechanics, take up, funding, completion and settlement; the ability of Agnico Eagle to complete the transactions contemplated by the Offer; the satisfaction or waiver of the conditions to consummate the Offer; a second step transaction pursuant to which Agnico Eagle may acquire
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
What is the premium Agnico Eagle (AEM) is offering for O3 Mining shares?
When does Agnico Eagle's (AEM) tender offer for O3 Mining expire?
What percentage of O3 Mining shares have agreed to tender to AEM's offer?
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When is AEM expected to complete the second-step transaction for remaining O3 Mining shares?
