Navigate this market better. Subscribe for FREE stock alerts and information.

Thursday, February 3, 2011

Newmont to buy Fronteer Gold for C$2.3 billion, (NYSE: NEM), (TSE: FRG)

Newmont Mining Corp (NEM.N), the world's second largest gold company, said on Thursday it has agreed to acquire Canada's Fronteer Gold Inc (FRG.TO) for C$2.3 billion. Fronteer shareholders would receive C$14.00 in cash and one share in a new company to be called Pilot Gold for each Fronteer share. (Reporting by Steve James, editing by Gerald E. McCormick)

Source