There were 665 transactions in the North American Metals & Mining sector in second quarter of 2020, including 447 private placements, 72 public offerings, 101 mergers & acquisitions, 1 buyback and 44 shelf registrations, with a total value of C$39.6 billion. Total deal volume increased by 39% over the second quarter of 2019 and transaction value increased by 51%.
On May 11, 2020 SSR Mining Inc. and Alacer Gold announced an at-market merger of equals. The transaction implies consideration of C$8.19 per Alacer common share and the combined company capitalization of $4.0 billion. SSR Mining will be the surviving entity. At closing, SSR Mining and Alacer shareholders will collectively own approximately 57% and 43% of SSR Mining, respectively, on an issued and outstanding share basis.
In Q2 2020, Franco-Nevada Corporation, Newmont Corporation, Yamana Gold and Kinross Gold filed shelf registration in aggregate of $7.4 billion.
Calculations include asset purchases and sales, joint ventures and minority and majority shareholdings that disclosed a transaction value and were announced within the time frame. Cancelled transactions were excluded. Exchange rates based on historical figures.
Sources: Capital IQ, analyst research.
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