Kirkland Lake Gold will own about 57 per cent of the combined company
Kirkland Lake Gold Inc. (TSE:KGL) agreed to take over Newmarket Gold Inc. (TSE:NMI) in an all-stock deal valued at about $1-billion.
Kirkland Lake Gold will own about 57 per cent of the combined company, which will be known as Kirkland Lake Gold, the companies said on Thursday.
Newmarket shareholders will receive 0.475 shares of the combined company for each share held. Kirkland Lake Gold shares will be exchanged at a ratio of 2.1053 Newmarket shares per Kirkland Lake Gold share, the companies said.
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