Market Chatter: Eldorado Gold's Proposed Acquisition of Foran Mining Opposed by Glass Lewis

MT Newswires Live03-28

Eldorado Gold's (EGO) proposed acquisition of Foran Mining for 3.8 billion Canadian dollars ($2.7 billion) has been opposed by proxy adviser firm Glass Lewis, Bloomberg reported Friday.

Glass Lewis said that Eldorado Gold shareholders will get a smaller stake in the combined company than the value contributed under the stock-and-cash transaction, the report said.

The recommendation contrasts with Institutional Shareholder Services' advice that urged investors of both Eldorado and Foran to support the deal, according to the news outlet.

Glass Lewis and Eldorado Gold did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 33.58, Change: +0.54, Percent Change: +1.63

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