According to the Wall Street Journal Yamana Gold Incorporated have finally managed to acquire Meridian Gold Incorporated.

“Yamana Gold Inc. succeeded in its months-long effort to acquire Meridian Gold Inc., with both sides agreeing to a $3.6 billion cash-and-stock deal that improves the boosted offer Yamana made Thursday”.

The cash portion of the deal is now C$7 (US$7) per Meridian share, up from Thursday’s revised offer of C$6.50. The exchange ratio of the offer - 2.235 Yamana shares for each Meridian share - is unchanged. The cash portion of the bid, which was originally C$3.15 a share, would be funded by “currently available debt facilities,” Yamana said.

So there we have it. It should be interesting to see how the market reacts to this news when the trading begins today in New York.

Have a good one.