AngloGold Ashanti To Purchase Golden Cycle Gold

July 2008 | M&A News Alert

South African miner AngloGold Ashanti won shareholder approval to acquire Colorado-based miner Golden Cycle Gold Corporation on July 1. AngloGold will give Golden Cycle shareholders 0.3123 shares for each of the Golden Cycle shares they own. When the deal was first announced in January it was valued at US$149mn, but due to the decline in AngloGold's share price, the value has dropped more than 25%.

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