Iamgold (IMG.TO,IAG) would merge with Gold Fields(GFI) Spinoff
From CBS Marketwatch, by Myra P. Saefong, August 11, 2004:
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Gold Fields, Iamgold to merge
In equities news, Gold Fields Ltd. (GFI: news, chart, profile) will combine its international assets with Iamgold Corp. (IAG: news, chart, profile) in a $2.1 billion deal, the companies said Wednesday.
Gold Fields will own about 70 percent of the equity of the new company, to be renamed Gold Fields International Limited, and current Iamgold shareholders will own the remaining 30 percent and receive a special cash dividend of 50 cents Canadian per share.
Iamgold will purchase the assets of Gold Fields located outside of the South African Development Community region by the issuing about 351.7 million ordinary shares.
Shares of Gold Fields were down 22 cents at $10.43, while shares of U.S.-listed shares of Iamgold traded at $5.56, up 25 cents, or 4.7 percent.
The merger agreement follows a failed transaction between Iamgold and Wheaton River Minerals (WHT: news, chart, profile). Iamgold and Wheaton announced plans to merge back in March, but in late May, Coeur d'Alene Mines (CDE: news, chart, profile) made an offer to buy Wheaton, and Golden Star Resources (GSS: news, chart, profile) made a bid for Iamgold. Golden Star's offer for Iamgold was set to expire on August 16. ...
