NEM - Newmont to buy GT Gold in C$456M all-cash deal

Newmont (NEM) agrees to acquire all outstanding shares of GT Gold (GTGDF) it does not already own for C$3.25/share in cash, totaling C$456M.The deal represents a 38% premium to the 20-day volume-weighted average price of GT Gold's shares on the Toronto Stock Exchange as at March 9.GT's primary asset is the wholly-owned, 47.5K hectare Tatogga property, located in the Traditional Territory of the Tahltan Nation.K2 has agreed to withdraw its requisition for a special meeting of GT Gold shareholders as a result of the deal.Newmont is "an excellent long-term investment due mainly to its pristine balance sheet and stable long-term production outlook," Fun Trading writes in an analysis published on Seeking Alpha.

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Newmont to buy GT Gold in C$456M all-cash deal