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Golden Star Agrees to $470 Million Takeover by Chifeng Jilong

  • Offer is a 25% premium to Golden Star’s Friday stock price
  • Deal gives Shanghai-listed firm access to Ghana gold mine
Photographer: Nicolo Filippo Rosso/Bloomberg

Canadian miner Golden Star Resources Ltd. agreed to be acquired by Chifeng Jilong Gold Mining Co. in a $470 million deal that gives the Shanghai-listed company access to a gold mine in Ghana.

Chifeng agreed to pay $3.91 cash for each share of Golden Star in the deal, a 24% premium to Friday’s closing price in New York. Golden Star’s board unanimously approved the transaction and recommends shareholders support the deal, the Toronto-based company said Monday in a statement.