Axcess News: The Fight for Wheaton River Minerals ( M2 PRESSWIRE )
Jun 01, 2004 (M2 PRESSWIRE via COMTEX) -- (AXcess News) Vancouver BC - The
fight for Wheaton River Minerals (AMEX: WHT) heated up Monday as the boards of
Iamgold (AMEX: IAG) and Wheaton River Minerals both rejected two unsolicited
bids from Coeur d'Alene Mines (NYSE: CDE) and Golden Star Resources Ltd. (AMEX:
GSS), urging shareholders to do the same.
The boards of both companies urged their shareholders to reject the offers of
the two U.S. based mining companies at a shareholders meeting slated for June 8.
Iamgold bid $2.2 billion for Wheaton on March 30, Coeur bid $1.7 billion in cash
and stock May 27th and Colorado-based Golden Star then bid $900 million for
Iamgold in an all-stock offer Thursday as well.
Coeur d'Alene, in a statement released Monday, tried to justify their offer to
buy Iamgold, citing its lack of debt, high cash balance and performance in a
side-by-side chart that displayed both Coeur's and Wheaton River's proposals.
Dennis E. Wheeler, Chairman and Chief Executive Officer of Coeur said he was
surprised Wheaton's board had rejected his company's offer without doing their
due diligence on Coeur's properties.
"We are continuing to pursue this as a friendly transaction," said Wheeler.
To read the rest of this story, go to axcessnews.com, where you'll
find comments from the presidents of both Wheaton and Golden Star.
About AXcess News:
Dubbed the "Yahoo! of small cap business news" by Gordon Borrell, one of
America's leading media and research gurus, AXcess News is fast becoming a known
commodity for both the serious investor and people in general looking for
informed articles and insightful columns. axcessnews.com
CONTACT: Eric Stevenson, Editor, AXcess News e-mail: editor775@charter.net WWW:
axcessnews.com
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