What to replace it with now?
TORONTO, Dec. 6 /CNW/ – Franco-Nevada Corporation (“Franco-Nevada”) announced today that it has informed International Royalty Corporation (TSX: IRC – News; AMEX: ROY – News; “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.
Franco-Nevada intends to yada yada continues here