Independent advisor Fairvest Corporation has given its blessing to the merger deal between Goldcorp (G-T) and Wheaton River Minerals (WRM-T), in a recommendation to clients on Jan. 26.
A meeting of Goldcorp shareholders is scheduled for Feb. 10, where shareholders are scheduled to vote on the proposed bid for Wheaton. Goldcorp is offering one share for every four Wheaton shares.
Fairvest’s opinion is generally followed by its institutional clients, who will make up a large number of share votes at the meeting. Recommendations against deals appear to have played a significant part in derailing the earlier merger deal between Wheaton and Iamgold (IMG-T), and in stopping a takeover of Wheaton by Coeur d’Alene Mines (CDE-N).
A rival bid for Goldcorp from Glamis Gold (GLG-T), offering 0.89 Glamis shares for one Goldcorp, is predicated on the Goldcorp-Wheaton bid’s failure.
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