Bloomberg reported that Yamana Gold (NYSE:AUY) is purchasing Extorre Gold Mines (TSX:XG) and acquiring control of its Argentina gold mine.

As quoted in the market news:

Extorre shareholders will receive C$3.50 in cash and 0.0467 percent of a share of Yamana, Vancouver-based Extorre said in a statement today. That’s an implied deal price of C$4.26 a share and 54 percent more than Extorre’s 20-day volume-weighted average price, according to the statement.

Click here to read the full Bloomberg report.