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Friday, 28th May 2004 (4937 views)

The Canadian gold industry has been shaken by a prospective $2.56 billion takeover of Wheaton River Minerals.<BR/><BR/>Two junior US mining companies are attempting to take over the firm, that has recently revealed plans for a friendly merger with Iamgold, according to the Vancouver Sun.<BR/><BR/>If the merger went ahead the companies would create one of the top 10 gold producers in the world and is due for vote on June 8.<BR/><BR/>Coeur d'Alene Mines Corp and Golden Star Resources have both offered bids of $2.56 billion for Wheaton and $1.2 billion for Iamgold, in a move to prevent the merger occurring.<BR/><BR/>If the takeovers proved successful the fourth largest precious metals company in North America would be created.<BR/><BR/>Both companies have so far not issued a response to the takeover bids.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=2711575"/>

 

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