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Yamana Gold
Sector: Precious Metals
Challenge: As part of a three-way transaction, Yamana Gold made an unsolicited takeover bid for Meridian Gold and a friendly offer for Northern Orion. Each deal was contingent upon the other being completed, yet the Meridian board of directors had recommended against Yamana’s overture.
Solution: Working closely with the deal team, Kingsdale helped formulate key messages and to strategize the approach for reaching out to retail and institutional investors. Aside from sharing information with investors, Kingsdale played a critical role conveying sentiment “from the street” that ultimately helped Yamana management determine its final offer.
Result:
With an increase in Yamana’s offer price, Meridian’s board accepted a revised offer. Yamana went to Meridian shareholders once again, and with the communications support of Kingsdale, won sufficient shareholder approval to make the hard-fought combination a reality.
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