In separate votes held Tuesday, Detour shareholders voted 86 per cent in favour of the proposal, while nearly 99 per cent of the shares voted by of Kirkland Lake shareholders also backed the deal.
Kirkland Lake announced the proposed purchase of the owner of the
At the time, Kirkland Lake CEO
Some analysts were initially unenthusiastic about the deal to buy Detour because of fears its lower quality mine resource would degrade Kirkland Lake's premium valuation. But advisory firms ISS and Glass Lewis later recommended the deal to both sets of shareholders.
Under the agreement,
Kirkland Lake said the acquisition will add an asset with potential for growth above its current production of about 600,000 ounces per year, gives the company combined net cash of
It said it expects to realize cost-saving synergies of
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Companies in this story: (TSX:KL, TSX:DGC)
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