Goldcorp (GG) Announces Conclusion Of Exeter Acquisition
Zacks Investment Research | Aug 04, 2017 08:53AM ET
Goldcorp Inc. (NYSE:GG) has closed the earlier announced acquisition of all issued and outstanding shares of Exeter Resource Corporation, not already owned by the company, through a planned arrangement approved by the court.
Pursuant to this arrangement, Goldcorp acquired all issued and outstanding Exeter shares in exchange of 0.12 of a common share of Goldcorp for each Exeter common share, resulting in 100% ownership.
In regards to this arrangement, Goldcorp will issue a total of up to 1,896,145 Goldcorp shares to the former Exeter shareholders, who now own roughly 0.22% of the 865,034,962 Goldcorp shares issued and outstanding, on a non-diluted basis.
The Exeter Shares are now expected to be delisted from the Toronto Stock Exchange by Aug 8 and also from the Frankfurt Stock Exchange (Borse Frankfurt) and the NYSE-MKT.
Goldcorp’s shares have lost 5.9% in last three months versus the 4.6% gain of its Zacks Investment Research
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