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Strategies & Market Trends : Ride the Tiger with CD

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From: TheSlowLane	9/19/2011 6:17:38 AM
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Juniors are delicious, says AEM... Agnico-Eagle and Grayd Enter Into a Definitive Agreement Whereby Agnico-Eagle Will Acquire Grayd TORONTO, ONTARIO--(Marketwire - Sept. 19, 2011) - (All amounts expressed in Canadian dollars unless otherwise noted) Agnico-Eagle Mines Limited ("Agnico-Eagle") (NYSE:AEM)(TSX:AEM) and Grayd Resource Corporation ("Grayd") (TSX VENTURE:GYD)(OTCQX:GYDRF) jointly announce that they have entered into an acquisition agreement, pursuant to which Agnico-Eagle has agreed to offer to acquire all of the outstanding common shares of Grayd at $2.80 per share by way of a take-over bid. The transaction is valued at approximately $275 million on a fully-diluted basis. The offer price of $2.80 per Grayd share represents a premium of 65.7% to the volume weighted average price of Grayd shares on the TSX Venture Exchange for the 20-day period ended September 16, 2011 (the last trading day prior to announcement of the transaction). marketwire.com

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