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Globe and Mail reported that Iamgold (NYSE:IAG) has acquired Trelawney Mining (TSXV:TRR) for $608 million.
Globe and Mail reported that Iamgold (NYSE:IAG) has acquired Trelawney Mining (TSXV:TRR) for $608 million.
As quoted in the market news:
The all-cash acquisition occurs at a time when junior gold companies have seen their equity valuations beaten down by investors who have shirked the sector for less risky, higher-yield assets. Iamgold paid $3.30 a share for Trelawney, a 37 per cent premium to recent trading activity but a far cry from its year-ago high of nearly $6 a share.
Click here to read the full Globe and Mail report.