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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG

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To: sea_urchin who wrote (287)	12/14/1998 11:12:00 AM
From: Zardoz	Read Replies (4) of 48092

PDG is taking over Getchell at a premium.... Sounds desperate to me. Placer Dome Inc - Globe says miner agrees to acquire Getchell Gold Placer Dome Inc PDG Shares issued 250,018,219 1998-12-11 close $21.75 Monday Dec 14 1998 The Globe and Mail reports in its Monday, Dec. 14, 1998 edition that Placer Dome has agreed to buy Getchell Gold in a $1.1-billion (U.S.) takeover that will make the combined company North America's second-largest gold producer with annual production of 3.5 million ounces. The Globe's Peter Kennedy writes that Placer said on Sunday it is going ahead with the deal in hopes of doubling production at Getchell's two gold mines in Nevada. The merger document was signed late on Friday and officials from the companies have been scrambling since that moment to cobble together details of the deal before Australian and North American market open this morning. Under the agreement, Placer is offering 2.45 of its shares for each of Denver-based Getchell's 31.5 million shares outstanding. Based on Friday's prices, Placer values Getchell at about $1.1-billion or $34.45 a share. On Friday, Getchell shares fell 75 cents to $16.18 on the New York Stock Exchange.

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