Allied Gold Mining in merger with Australian miner

Shares in Allied Gold Mining rocketed almost 64 per cent on Friday after the mining company announced that it and fellow miner St Barbara plan to form a one billion dollar mid-tier miner by merging, in the largest deal of its kind since late 2010.

Shares in Allied Gold Mining rocketed almost 64 per cent on Friday after the mining company announced that it and fellow miner St Barbara plan to form a one billion dollar mid-tier miner by merging, in the largest deal of its kind since late 2010.

Under the agreement, St Barbara will acquire the entire issued and to be issued ordinary share capital of Allied Gold, and shareholders will be entitled to receive A$1.025 in cash and 0.8 St Barbara consideration shares for each Allied Gold share held.

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