Capital Gold (CGC.A), a New York-based gold miner with operations in northern Mexico, said on Tuesday it had ended talks on being taken over by Timmins Gold (TMM.V), paving the way to being bought by Gammon Gold (GAM.TO) after months of speculation. Capital (CGC.TO) said its board had reviewed the Timmins all-stock proposal, and determined it was not superior to a $288 million cash and stock offer from Gammon Gold. Capital Gold's board already recommended the Gammon offer to shareholders in December.
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