Goldcorp Inc. (NYSE: GG) said Tuesday that it has matched an offer by Minera Penmont in its attempt to acquire Canplats Resources Corp.
Goldcorp said it changed its offer to acquire all outstanding shares of Canplats after Penmont, a joint venture owned by Fresnillo PLC and Newmont Mining Corp. (NYSE: NEM), made its bid for the mining company on Monday.
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Under the new proposal, Goldcorp has offered to pay 4.80 Canadian dollars ($4.61) per share to match Minera's latest bid. The offer is comprised of 4.60 Canadian dollars per share in cash plus shares of a new company that will hold Canplats' exploration properties.
The termination fee payable to Goldcorp will be increased to $10.2 million
In November, Goldcorp said it would acquire Canplats in a deal worth 238 million Canadian dollars ($228 million) and assume ownership of Canplats' Camino Rojo project in Mexico.
Penmont made a bid for Canplats earlier this month, which Goldcorp matched last week, offering 4.40 Canadian dollars per share ($4.22). Penmont then raised its offer on Monday.
Shares of Goldcorp rose 10 cents in after-hours trading from its close of $39.51.
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