Bidding war erupts for Yamana Gold

Canadian-based Yamana Gold confirmed on November 4 that it received an “unsolicited binding proposal” from Agnico Eagle Mines and Pan American Silver that was superior to a previous takeover bid from South African miner Gold Fields. The joint cash and stock offer from Agnico Eagle and Pan American valued Yamana at around $4.8 billion, while the Gold Fields all-stock deal…

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