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Monday, February 14, 2011

Ventana accepts sweetened bid from Batista's AUX, (TSE: VEN)

Ventana Gold Corp (VEN.TO) said on Monday it agreed to a sweetened bid from Brazilian billionaire Eike Batista to buy the shares he doesn't already own and which values the company at around C$1.5 billion. Ventana, which owns the promising La Bodega gold property in Colombia, agreed to the C$13.06-a-share offer after fighting off a C$12.63 hostile bid from Batista's AUX Canada Acquisition Inc for nearly three months. Ventana shares jumped 4.8 percent in early trade on Monday at C$12.87 per share after touching highs of C$12.92.