Equinox Gold (TSX: EQX) (NYSE American: EQX) has agreed to acquire Calibre Mining (TSX: CXB) in a C$2.6 billion ($1.8 billion) all-stock deal that would make the combined company Canada’s second-largest gold producer.
Under the agreement, Calibre shareholders will receive 0.31 of an Equinox share for each Calibre share. Equinox’s stock fell 3% to $6.6 on Monday morning in New York, giving the company a market capitalization of $3 billion. Calibre shares were down 7% in Toronto at C$2.8 ($1.9), giving the company a market cap of C$2.5 billion ($1.7 billion).
The implied market capitalization of the combined company is estimated at $5.4 billion, the two miners said in the statement.
Canada’s second-largest gold producer
The deal, expected to close by the second quarter of this year, will create a company with nine producing mines, one mine under construction, and five projects across five…
