Leading intermediate Canadian gold and silver producer AuRico Gold Inc. (TSX:AUQ, NYSE:AUQ) has completed its acquisition of Northgate Minerals Corporation (TSX:NGX, NYSE Amex:NXG).
AuRico is purchasing Northgate for $1.5 billion. The acquisition was carried out by way of a plan of arrangement and was approved by the Supreme Court of British Columbia. Shareholders of both AuRico and Northgate voted overwhelmingly in favour to approve AuRico's acquisition of Northgate at their respective special meetings of shareholders each held on October 24, 2011. Under the terms of the acquisition, AuRico acquired all of the issued and outstanding common shares of Northgate on the basis of 0.365 of an AuRico common share for each common share of Northgate.
AuRico was advised on the legal aspects of this transaction by a team of Fasken Martineau lawyers that included John Turner, Richard Steinberg, Gregory Ho Yuen, Krisztián Tóth, Christopher Steeves, Paul Braczek, Kelly McDonough, Huy Do and Mark Magro.