Agnico Eagle and O3 Mining Issues a Reminder to O3 Mining Shareholders to Tender their Shares to Agnico Eagle's All Cash Offer Expiring January 23, 2025
Agnico Eagle Mines (NYSE: AEM) reminds O3 Mining shareholders to tender their shares to its all-cash offer of $1.67 per common share before January 23, 2025. The offer represents a 58% premium to O3's closing price on December 11, 2024, and values the company at approximately $204 million on a fully diluted in-the-money basis.
The transaction has received unanimous recommendation from O3's board of directors, and approximately 39% of outstanding shares have already been locked up through agreements with directors, officers, and major shareholders who have committed to tender their shares. Shareholders are urged to act promptly to ensure their tender instructions are processed before the expiry time.
Agnico Eagle Mines (NYSE: AEM) ricorda agli azionisti di O3 Mining di cedere le loro azioni alla sua offerta completamente in contante di $1,67 per azione ordinaria prima del 23 gennaio 2025. L'offerta rappresenta un premio del 58% rispetto al prezzo di chiusura di O3 dell'11 dicembre 2024 e valuta la società a circa $204 milioni su base pienamente diluita e in the money.
La transazione ha ricevuto una raccomandazione unanime dal consiglio di amministrazione di O3, e circa il 39% delle azioni in circolazione è già stato bloccato tramite accordi con amministratori, dirigenti e azionisti di maggioranza che si sono impegnati a cedere le loro azioni. Si esorta gli azionisti ad agire rapidamente per garantire che le loro istruzioni di cessione vengano elaborate prima della scadenza.
Agnico Eagle Mines (NYSE: AEM) recuerda a los accionistas de O3 Mining que entreguen sus acciones a su oferta en efectivo de $1.67 por acción ordinaria antes del 23 de enero de 2025. La oferta representa un premio del 58% al precio de cierre de O3 del 11 de diciembre de 2024, y valora a la empresa en aproximadamente $204 millones en base totalmente diluida y dentro del dinero.
La transacción ha recibido una recomendación unánime de la junta directiva de O3, y aproximadamente el 39% de las acciones en circulación ya han sido aseguradas a través de acuerdos con directores, funcionarios y accionistas mayoritarios que se han comprometido a entregar sus acciones. Se insta a los accionistas a actuar con prontitud para asegurar que sus instrucciones de entrega sean procesadas antes de la fecha de vencimiento.
아그니코 이글 마인스 (NYSE: AEM)는 O3 Mining 주주들에게 2025년 1월 23일 이전에 주당 1.67달러의 현금 제안에 그들의 주식을 제출할 것을 상기시킵니다. 이 제안은 2024년 12월 11일 O3의 종가에 비해 58%의 프리미엄을 나타내며, 회사 가치는 약 2억 4백만 달러로 평가됩니다. (전량 희석 기준)
이 거래는 O3 이사회로부터 만장일치 추천을 받았으며, 현재 약 39%의 유통 주식이 이미 이사, 임원, 주요 주주와의 계약을 통해 확보되었습니다. 주주들에게는 만료 시간 이전에 그들의 제출 지침이 처리될 수 있도록 신속하게 행동할 것을 권장합니다.
Agnico Eagle Mines (NYSE: AEM) rappelle aux actionnaires d'O3 Mining de soumettre leurs actions à son offre entièrement en espèces de 1,67 $ par action ordinaire avant le 23 janvier 2025. L'offre représente une prime de 58% par rapport au prix de clôture d'O3 le 11 décembre 2024, et valorise l'entreprise à environ 204 millions $ sur une base complètement diluée et dans l'argent.
La transaction a reçu une recommandation unanime du conseil d'administration d'O3, et environ 39% des actions en circulation ont déjà été verrouillées par des accords avec des directeurs, des responsables et des actionnaires majeurs qui se sont engagés à soumettre leurs actions. Les actionnaires sont invités à agir rapidement pour garantir que leurs instructions de soumission soient traitées avant l'heure d'expiration.
Agnico Eagle Mines (NYSE: AEM) erinnert die Aktionäre von O3 Mining daran, ihre Aktien zu dem vollständigen Bargeldangebot von 1,67 $ pro Stammaktie vor dem 23. Januar 2025 anzubieten. Das Angebot stellt eine 58% Prämie auf den Schlusskurs von O3 am 11. Dezember 2024 dar und bewertet das Unternehmen mit etwa 204 Millionen $ auf einer vollständig verwässerten, im Geld liegenden Basis.
Die Transaktion erhielt eine einstimmige Empfehlung des Vorstands von O3, und etwa 39% der ausstehenden Aktien wurden bereits durch Vereinbarungen mit Direktoren, Führungskräften und Hauptaktionären gesperrt, die sich verpflichtet haben, ihre Aktien anzubieten. Den Aktionären wird geraten, umgehend zu handeln, um sicherzustellen, dass ihre Angebotsanweisungen vor Ablauf der Frist bearbeitet werden.
- 58% premium offered over O3 Mining's pre-announcement share price
- 39% of shares already secured through lock-up agreements
- Unanimous board recommendation supporting the offer
- All-cash transaction providing immediate liquidity to shareholders
- None.
Insights
This tender offer reminder from Agnico Eagle for O3 Mining represents a strategic $204 million acquisition that consolidates Agnico's position in key mining territories. The
The unanimous board recommendation and high premium suggest this deal is likely to succeed, though the relatively quick timeline to the January 23rd deadline could create some execution pressure. The all-cash nature of the transaction provides immediate liquidity and certainty of value for O3 shareholders, particularly beneficial in the current volatile mining sector environment.
The deal structure as a friendly take-over bid, combined with strong insider support, minimizes the risk of competitive bids or regulatory hurdles. For Agnico, this acquisition aligns with their strategy of consolidating high-potential properties in established mining jurisdictions while maintaining a disciplined approach to valuation.
The acquisition of O3 Mining strengthens Agnico Eagle's portfolio by adding strategic assets in Quebec's Abitibi gold belt, a region where they already have significant operational expertise. The timing is opportunistic, capitalizing on current market conditions to acquire promising exploration assets at a reasonable premium.
From a technical perspective, O3's project portfolio, particularly in Val-d'Or, complements Agnico's existing operations and could provide operational synergies. The deal's structure suggests Agnico sees near-term development potential in O3's assets, which could accelerate their project pipeline while maintaining their focus on politically stable jurisdictions.
The
- Offer is expiring on January 23, 2025
$1.67 58% premium to O3 Mining's closing price on December 11, 2024- Offer unanimously recommended by Board and Special Committee of O3 Mining
39% of outstanding shares of O3 Mining have signed Lock-up Agreements to tender to the Offer- Questions or Need Assistance? Contact Laurel Hill Advisory Group at 1-877-452-7184 or email assistance@laurelhill.com
Reasons to Tender
- Agnico is offering to acquire your shares for
$1.67 - The Offer represents a
58% premium to the closing price of the Common Shares prior to announcement of the Offer - Agnico and O3 entered into a definitive support agreement, pursuant to which Agnico agreed to offer to acquire all of the outstanding Common Shares in cash by way of a friendly take-over bid
- The Offer is valued at approximately
$204 million
Locked-Up Shareholders and O3 Board Recommendations
Agnico has entered into lock-up agreements with all directors and officers of O3 and several of O3's largest shareholders, representing approximately
In addition, the board of directors of O3 has unanimously recommended that shareholders tender their Common Shares to the offer (see How to Tender Your Shares below for details).
To ensure you do not miss out on the Offer, it is critical to tender your shares before 11:59 p.m. (EST) on January 23, 2025 (the "Expiry Time"). Shareholders are encouraged to act well in advance of the Expiry Time to ensure tender instructions are received in a timely manner.
If you have already tendered your shares no further action is required.
How to Tender Your Shares
Shareholder Type | How do I tender my Common |
Beneficial Shareholders – Most shareholders are | Contact your bank or your broker |
Registered Shareholders – You are a registered | 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
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SOURCE Agnico Eagle Mines Limited
FAQ
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