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Iamgold proposes buyout of Euro Ressources

15th November 2023

By: Creamer Media Reporter

     

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Toronto- and New York-listed Iamgold on Tuesday announced a draft buyout offer to acquire the rest of French precious metals royalties company Euro Ressources.

The Canadian company said that its subsidiary, Iamgold France, had filed a draft buyout offer with the Autorité des marchés financiers to acquire all the outstanding common shares of Euro for €3.50 each.

The offer will be followed immediately by a squeeze-out under French law.

Iamgold stated that the offer price represented a 6.71% premium based on the closing price of the Euro shares on the Euronext Paris stock exchange on November 13.

Iamgold France will finance the offer from existing cash resources.

Edited by Creamer Media Reporter

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