CGA Mining (TSX: CGA) (CGX.AX) Makes Wednesday's TSX Top Traders List on News of Merger with B2Gold Corp. (TSX: BTO) (BGLPF) (BGLPF)
Category: Investment, Gold, Mining
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New York, New York - September 19, 2012 (Investorideas.com newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector for independent investors issues a trading alert for CGA Mining (TSX: CGA) (CGX.AX) following merger news. The stock is trading at $2.92, gaining $0.27 or 10.19% as of 11:06AM EDT on over 18 Million shares, making it one of the top traders on the TSX.
B2Gold Corp. (BTO.TO) (BGLPF) (BGLPF) (NAMIBIAN:B2G) and CGA Mining Limited (CGA.TO)(CGX.AX) announced that they have entered into a definitive Merger Implementation Agreement ("Merger Agreement") to combine the two companies at the agreed exchange ratio of 0.74 B2Gold common shares for each CGA share held, which represents a purchase price of approximately C$3.18 per CGA share and a premium of 22% using the 20 day volume weighted average share price of each respective company, and a 26% premium over the CGA closing share price on September 17, 2012 based on the closing price for the B2Gold shares as of such date. The transaction is valued at approximately C$1.1 billion.
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