TORONTO (AP) — Canada's Goldcorp Inc. said Friday it has agreed to buy Andean Resources Ltd. for about 3.6 billion Canadian dollars (US$3.42 billion), trumping a rival bid from Eldorado Gold Corp.
The acquisition would give Goldcorp, the world's second-largest gold producer by market capitalization, access to Andean's Cerro Negro gold project in Argentina, which is said to have a significant amount of gold and silver.
The Goldcorp-Andean deal has been approved by both companies' boards but requires approval by a majority of Andean shareholders. The companies expect the deal to close later this year or in early 2011.
The announcement came shortly after Canada's Eldorado …
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