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AngloGold offers to buy out N. American bullion miner Corvus


By Reuters Staff
3 Min Read
JOHANNESBURG (Reuters) -South Africa’s AngloGold Ashanti Ltd said on Tuesday it had offered to buy all the shares it does not already own in Canadian bullion miner Corvus Gold Inc as it seeks to expand its ore reserves.
The Johannesburg-listed company has shed most of their South African assets to focus on higher returns in both North and South America, sources said, as mining companies in South Africa struggle with rising costs, volatile labour relations and power disruptions.
The proposed takeover will be an all-cash deal and at a premium of 55% to the market price of C$2.58 ($2.06) of Corvus as of May 5, a day before AngloGold, which already owns 19.5% of Corvus, guaranteed the company a $20 million loan, entering a 90-day exclusivity period during which it could conduct due diligence of its assets. ....

South Africa , United States , South African , Alberto Calderon , Promit Mukherjee , Neal Froneman , Clara Denina , Thomson Reuters Trust Principles , Africa Anglogold Ashanti Ltd , Corvus Gold Inc , Anglogold Ashanti Ltd , South America , Beatty District , Colombian Alberto Calderon , Thomson Reuters Trust , ஒன்றுபட்டது மாநிலங்களில் , ஆல்பர்டோ கால்டெரான் , தாம்சன் ராய்ட்டர்ஸ் நம்பிக்கை ப்ரிந்ஸிபல்ஸ் , கவுஸ் தங்கம் இன்க் , ஆங்கிலோகோல்ட் அசாந்தி லிமிடெட் , தெற்கு அமெரிக்கா , தாம்சன் ராய்ட்டர்ஸ் நம்பிக்கை ,