Gold producer offers premium for junior
Kinross Gold mails friendly takeover bid to shareholders of Underworld Resources, owner of the prospective White Gold Project
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Last updated 3/28/2010 at Noon
Kinross Gold Corp. is making good on its promise to return to Canada.
The gold producer entered into a definitive agreement with Underworld Resources Inc. March 16 to acquire 100 percent of the junior's outstanding common shares not already owned by Kinross for stock and cash valued at C$139.2 million.
Kinross already owns 8.5 percent of Underworld's shares (on a fully-diluted basis). Underworl...
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