Shareholders of Bema Gold (BGO-T, BGO-N, BAU-L) have voted in favour of a merger deal with Kinross Gold (K-T, KGC-N).
A special meeting of Bema shareholders in Vancouver saw 91% of the shares voted marked in favour of the deal, which would merge the two companies by a share exchange. A Bema share would be exchanged for 0.4447 of a Kinross share.
The deal values Bema at $3.3 billion, based on Kinross’s closing price of $15.51 per share on Tuesday. Bema has about 483 million shares outstanding.
Final court approval for the deal is being sought on Jan. 31 in the Ontario Superior Court.
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