Deals
Batista’s AUX Wins Ventana Takeover After Raising Bid
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Brazilian Billionaire Eike Batista’s AUX Canada Acquisition Inc. reached a verbal agreement to buy about 80 percent of gold explorer Ventana Gold Corp. in a deal that values the company at C$1.54 billion ($1.56 billion).
AUX will acquire all of the remaining shares in Ventana that it doesn’t already own for C$13.06 apiece in cash, Ventana said today in a statement. The offer represents a 34 percent premium above the 20-day volume-weighted average trading price through Nov. 16, the day before Batista offered C$12.63 a share, according to the statement.