Precious metals royalty company Royal Gold Inc. (NASDAQ: RGLD) wants to acquire International Royalty Corp. (AMEX: ROY) in a transaction valued at 749 million Canadian dollars ($706.9 million.)
Royal Gold says that if shareholders approve, the combined company would have nearly 200 royalty interests at mine sites around the world. The companies had combined revenue of $113 million in the fiscal year ended in September.
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Royal Gold has offered 7.45 Canadian dollars ($7.03) in cash or 0.1385 common shares for each common share of IRC.
Royal Gold says the offer represents a premium of 70 percent over IRC's 20-day volume-weighted average trading price through Dec. 4 on the Toronto Stock Exchange.
The transaction which is subject to the approval of shareholders. IRC's board unanimously supported the bid, Royal Gold says.
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