Goldcorp (GG) Announces Conclusion of Exeter Acquisition

Goldcorp Inc. GG has closed the earlier announced acquisition of all issued and outstanding shares of Exeter Resource Corporation, not already owned by the company, through a planned arrangement approved by the court.

Pursuant to this arrangement, Goldcorp acquired all issued and outstanding Exeter shares in exchange of 0.12 of a common share of Goldcorp for each Exeter common share, resulting in 100% ownership.

In regards to this arrangement, Goldcorp will issue a total of up to 1,896,145 Goldcorp shares to the former Exeter shareholders, who now own roughly 0.22% of the 865,034,962 Goldcorp shares issued and outstanding, on a non-diluted basis.  

The Exeter Shares are now expected to be delisted from the Toronto Stock Exchange by Aug 8 and also from the Frankfurt Stock Exchange (Borse Frankfurt) and the NYSE-MKT.  

Goldcorp’s shares have lost 5.9% in last three months versus the 4.6% gain of its industry.

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Goldcorp Inc. Price and Consensus | Goldcorp Inc. Quote

Goldcorp currently carries a Zacks Rank #3 (Hold).

Stocks to Consider

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