Monday, December 7, 2009

Gold Deals: Franco Nevada Buying ROY, Stock Up 50%.

In more gold miner news today, Franco Nevada has proposed to ROY, International Royalty Corp. ROY's stock has jumped 50%.

"Franco-Nevada Corporation ("Franco-Nevada") announced today that it has informed International Royalty Corporation (TSX: IRC; AMEX: ROY) ("IRC") that Franco-Nevada intends to, directly or indirectly through a wholly-owned subsidiary, make a formal all-cash offer to IRC shareholders to acquire any or all of the outstanding common shares of IRC (the "Offer") for C$6.75 cash per share.

The Offer price represents a 54% premium to the 20 day volume weighted average trading price of IRC shares on the Toronto Stock Exchange for the period ending December 4, 2009 and a 43% premium to the closing price of IRC shares on the TSX on that date. "

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