India, Feb. 4 -- Agnico Eagle Mines Limited (AEM) and O3 Mining Inc. (OIIIF) Tuesday said Agnico Eagle's takeover bid has now expired and it has acquired 95.6 percent of O3 Mining for 1.67 per share in cash.
Agnico Eagle Abitibi Acquisition Corp., a unit of Agnico Eagle, and O3 Mining will also enter into an amalgamation agreement by which, Agnico Eagle will acquire all remaining O3 Mining shares and issue one redeemable preferred share of the amalgamated entity (Amalco) for each share of O3 Mining. These preferred shares can be redeemed at 1.67 per share. Subsequently Amalco will become the subsidiary of Agnico Eagle.
The Amalgamation is expected to close by March 31, 2025.
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