Newmont Mining will acquire North American gold producer, Fronteer Gold. The buyer will pay a total of about $2.32 billion for the acquisition. The transaction, which is pending approval from Fronteer Gold’s shareholders, is expected to be completed in the second quarter of 2011.
As part of the agreement, the U.S. gold producer will buy all the shares of Fronteer Gold for $14.1 per share. BMO Capital Markets is the financial advisor to the buyer, while Fronteer Gold is financially advised by RBC Capital Markets.
Click here for the release from Fronteer Gold.