Goldcorp sweetens Canplats offer to $265 million
30 Dec 2009
Vancouver-based Goldcorp Inc, the world's second-largest gold producer, matched a competing offer from Minera Penmont to acquire Canada's gold and silver producer Canplats Resources Corp for C$276.6 million ($265.3 million).
Goldcorp said in a statement yesterday that it offered to pay C$4.60 a share plus a share in a newly formed exploration company valued at 20 cents, which is in line with Minera Penmont's offer.
Canplats had received a revised takeover bid from Minera Penmont on Sunday, which offered C$4.60 ($4.39) for each Canplats share.
Canplats said late on Sunday that Minera Penmont's rival is better than Goldcorp's sweetened offer on 24 December of C$4.40 a share - consisting of C$4.20 in cash and one share of a newly formed company valued at 20 Canadian cents a share.
Minera Penmont had earlier made an offer of C$4.20 for Canplats.
Minera Penmont is 44 per cent owned by Newmont Mining Corp with the remainder held by Mexican miner Fresnillo Plc.