Detour Gold to merge with Kirkland Lake Gold Ltd. for C$4.9 billion (US$3.7 billion)
Clients Detour Gold Corporation
Jones Day is advising Detour Gold Corporation in connection with its C$4.9 billion (US$3.7 billion) stock merger with Kirkland Lake Gold Ltd. Under the terms of the Transaction, all of the issued and outstanding common shares of Detour Gold will be exchanged at a ratio of 0.4343 of a Kirkland Lake Gold common share for each Detour Gold common share. Upon completion of the Transaction, existing Kirkland Lake Gold and Detour Gold shareholders will own approximately 73 percent and 27 percent of the pro forma company, respectively.