Business
Agnico Eagle Reiterates Offer to Acquire Alexandria Minerals Corporation at Substantial Premium to Offer by Chantrell
Agnico Eagle Reiterates Offer to Acquire Alexandria Minerals Corporation at Substantial Pr...
About this update from Agnico Eagle Mines Limited
[{"type":"text","content":"\n\n\n\nAgnico Eagle Reiterates Offer to Acquire Alexandria Minerals Corporation at Substantial Premium to Offer by Chantrell\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, June 24, 2019\n\n\n\nAgnico Eagle Votes Against Chantrell Transaction\nStock Symbol: AEM (NYSE and TSX)\n TORONTO, June 24, 2019 /CNW/ - Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) (\"Agnico Eagle\") today reiterates that its previously announced offer (the \"Agnico Proposal\") for all the shares of Alexandria Minerals Corporation (\"Alexandria\") at $0.05 per share in cash or shares represents a substantial premium to the offer by Chantrell Ventures Corp. (\"Chantrell\") to be considered at a meeting of Alexandria shareholders scheduled to be held on June 28, 2019.  The board of directors of Alexandria has determined that the Agnico Proposal constitutes a \"superior proposal\" under the terms of the arrangement agreement dated May 14, 2019 (the \"Chantrell Agreement\") between Alexandria and Chantrell, entitling Alexandria to terminate the Chantrell Agreement if Chantrell does not match the Agnico Proposal.  Alexandria has announced that Chantrell's right to match the Agnico Proposal expires at 11:59 p.m. on June 27, 2019.  The Agnico Proposal was first announced in Agnico Eagle's news release dated June 13, 2019.\nAgnico Eagle has voted all of the common shares of Alexandria it owns (approximately 28.8 million shares, representing approximately 5.6% of the issued and outstanding Alexandria shares) AGAINST the Chantrell offer.  In addition, Agnico Eagle intends to exercise its dissent rights with respect to the Chantrell offer, as provided for under the interim order of the court with respect to the Chantrell transaction.  Assuming the inferior Chantrell offer is either voted down by Alexandria shareholders or terminated prior to the Alexandria shareholders meeting, Agnico Eagle will proceed with its superior offer.\nAgnico Eagle's Proposal\nThe Agnico Proposal provides each Alexandria s...