Iamgold Corp Agreed to Acquire Vanstar Mining Resources In a Transaction Worth $31.1M
Portfolio Pulse from Benzinga Newsdesk
IAMGOLD Corporation (NYSE:IAG) has signed an agreement to acquire all issued and outstanding shares of Vanstar Mining Resources in a deal valued at approximately $31.1 million. Vanstar shareholders will receive 0.2008 of an IAMGOLD share for each Vanstar share they hold, based on the 5-day volume weighted average price of IAMGOLD shares on the TSX as of December 1, 2023.
December 05, 2023 | 12:08 pm
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IAMGOLD Corporation is set to acquire Vanstar Mining Resources, offering 0.2008 of its shares for each Vanstar share, in a transaction valued at $31.1 million.
The acquisition of Vanstar by IAMGOLD is likely to be viewed positively by the market as it represents a strategic expansion of IAMGOLD's mining portfolio. The transaction is significant in size for IAMGOLD, and the market typically reacts favorably to acquisitions that have the potential to add value to the acquiring company's operations. However, the final market reaction will depend on investor perception of the deal's price and the integration prospects.
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RELEVANCE 100