Kinross, Red Back make a great team

摘要

Kinross Gold just can't keep out of the headlines these days, and in a good way. Over the holiday weekend in much of Canada, Kinross and Red Back Mining executives hammered out a friendly, all-share merger that values Red Back at US$7.1 billion, or a 21% premium for Red Back shareholders. Ownership in the resulting beefed-up gold major will be split 63-37 between existing Kinross and Red Back shareholders, respectively. Both sides come out winners here: Red Back shareholders get more financial and operational depth, while Kinross shareholders fill the project pipeline with high-quality, early-stage assets in Ghana and Mauritania. Red Back chairman Lukas Lundin and CEO Richard Clark will join the Kinross board.