Cayden Resources acquired by Agnico Eagle for C$205 million 

 

November 28, 2014

On November 28, 2014, Agnico Eagle Mines Limited completed the C$205 million acquisition of Cayden Resources Inc. by way of a plan of arrangement. The consideration represented a substantial premium, 52 per cent, to average trading price for the shares in the 60 day period leading up to the announcement of the transaction.

The arrangement was approved by shareholders and other securityholders of Cayden at the special meeting of Cayden securityholders held on October 27, 2014. Final approval for the arrangement was obtained from the Supreme Court of British Columbia on October 29, 2014 and Mexican anti-trust approval was obtained on November 12, 2014.

McMillan advised Cayden Resources with a team that included Bernie Zinkhofer, Leo Raffin, Arman G. Farahani, Andjela Vukobrat and David Andrews (M&A/Capital Markets), Karen Carteri (Litigation), Peter Botz and Christine Man (Tax) and Herb Ono and Daniel Dex (U.S. Securities).