Deals
Endeavour Mining Explores Combination With Rival Teranga Gold
- Acquisitive firm holds early talks on all-stock combination
- Endeavour seeks friendly deal, considers offering low premium
Photographer: Waldo Swiegers/Bloomberg
This article is for subscribers only.
Endeavour Mining Corp., the acquisitive gold producer backed by Egyptian billionaire Naguib Sawiris, is in talks about a potential combination with Teranga Gold Corp. as it seeks to build scale.
The miner is discussing a “merger of equals style” deal with Teranga, it said in a statement Tuesday, confirming an earlier Bloomberg News report. It is considering an all-stock purchase and may offer a low premium for Toronto-listed Teranga, people with knowledge of the matter said earlier. Teranga confirmed the talks in a separate statement.