Equinox Gold Agrees to Buy Orla Mining in $5.1 Billion Deal

Equinox Gold Corp. agreed to acquire Orla Mining Ltd. in a cash-and-stock deal valuing the Canadian miner at about $5.1 billion, the latest in a wave of mining deals as producers seek to grow output after a massive price rally in bullion over the past year.

Equinox will pay largely in stock, with Orla shareholders receiving 1 Equinox share and a nominal cash payment of $0.0001 for each share, according to a statement. After the merger, existing Equinox holders will own about 67% of the combined company, and Orla holders will own about 37%.