Iamgold to Acquire Northern Superior Resources
Iamgold has agreed to acquire Quebec-based Northern Superior Resources through a court-approved plan under the Business Corporations Act.
The acquisition will combine Northern Superior's Philibert, Chevrier, and Croteau deposits with Iamgold's Nelligan and Monster Lake projects to form the Nelligan Mining Complex.
- Iamgold will buy all outstanding shares of Northern Superior, consolidating significant land holdings in Quebec, Canada.
- Northern Superior’s shareholders will receive 0.0991 of an Iamgold share plus C$0.19 ($0.14) in cash for each share held.
The transaction is valued at around C$267.4m.
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Author's summary: Iamgold acquires Northern Superior Resources.
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