Kinross amends offer

The terms of a previously announced merger between Kinross Gold (K-T) and La Teko Resources (LAO-T) have been amended.

Under the revised terms, La Teko shareholders will receive one Kinross share in exchange for every 2.25 shares held. Shareholders of La Teko were originally offered one Kinross share for 2.65 shares. As part of the negotiations, Kinross received a commitment from a group of shareholders that own approximately 16% of La Teko’s outstanding shares.

La Teko shareholders will be asked to vote on the offer at a special meeting to be held in February. The proposed merger has yet to be approved by Kinross’s board of directors.