Iamgold Acquires Trelawney Mining

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.