In a move to expand its Canadian portfolio, Iamgold (IMG-T, IAG-N) has tabled an offer to buy junior Trelawney Mining and Exploration (TRR-V) for its Cote Lake gold project in northern Ontario. The mid-tier gold producer intends to acquire all of Trelawney's outstanding shares for $3.30 in cash for each share held, or $608 million in total. The friendly deal provides Trelawney shareholders a healthy 36.6% premium based on its 20-day, volume-weighted average price ended April 26, 2012.
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