Now here’s a piece of news that shows everyone has a price:
VANCOUVER, BRITISH COLUMBIA–(Marketwire – 08/30/10) – Fronteer Gold Inc. (“Fronteer Gold”) (TSX:FRG – News)(AMEX:FRG – News) and AuEx Ventures, Inc. (“AuEx”) (TSX:XAU – News) announced today they have entered into an arrangement agreement under which Fronteer Gold will acquire 100% of the outstanding common shares of AuEx by way of a plan of arrangement.
Under the plan of arrangement, AuEx shareholders will receive 0.645 of a Fronteer Gold share, $0.66 in cash and 0.5 of a share in a new exploration company (“SpinCo”) for each AuEx share. Excluding the SpinCo shares, the offer represents a premium of approximately 50.9% based on the volume-weighted average prices of AuEx and Fronteer Gold shares on the Toronto Stock Exchange (“TSX”) for the 20 trading days ended on August 26, 2010, resulting in a fully diluted equity value for the transaction of $280.8 million. continues here