AuRico Gold to Buy Northgate in C$1.46 Billion Deal

Bloomberg reported that AuRico Gold (NYSE:AUQ) is working on a friendly takeover bid for Northgate (AMEX:NXG).

The market news is quoted as saying:

If approved it will see AuRico’s gold resource rise from 10.3 million gold equivalent ounces to almost 19 million and add operating mines in Canada and Australia to its portfolio.

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