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OceanaGold to Acquire Romarco Minerals for Cdn$856 Million
- Client News
- July 30, 2015
Paul, Weiss client Romarco Minerals Inc. announced that it had entered into a definitive agreement to be acquired by OceanaGold Corporation in a deal valued at approximately Cdn$856 million. Under the terms of the agreement, Romarco shareholders will receive 0.241 of an OceanaGold share for each Romarco share, representing Cdn$0.68 per Romarco share and a premium of 72.7 percent based on the July 29 closing prices of OceanaGold and Romarco on the Toronto Stock Exchange.
OceanaGold is a multinational gold producer with mines located on the South Island of New Zealand and in the Philippines. Romarco is a gold development company focused on production primarily in the U.S. The combination of OceanaGold and Romarco is expected to create the lowest-cost gold producer in the market.
The Paul, Weiss team included, among others, corporate partner Adam Givertz and counsel Didier Malaquin; tax partner David Mayo; and environmental counsel William O'Brien.