Shareholders vote to approve Eldorado Gold’s $3.8-billion takeover of Foran Mining

Shareholders approved Eldorado Gold Corp.'s acquisition of Foran Mining Corp., a deal valued at $3.8 billion when announced in February. The shareholder vote clears a major M&A hurdle for Eldorado (ELD-T) and Foran (FOM-T) and moves the transaction closer to closing. This is a material, positive corporate development with likely stock- and sector-level implications for the Canadian/base-metals mining space.

Analysis

Shareholders approved Eldorado Gold Corp.'s acquisition of Foran Mining Corp., a deal valued at $3.8 billion when announced in February. The shareholder vote clears a major M&A hurdle for Eldorado (ELD-T) and Foran (FOM-T) and moves the transaction closer to closing. This is a material, positive corporate development with likely stock- and sector-level implications for the Canadian/base-metals mining space.