Northern Star Resources (ASX:NST)
and Saracen Mineral Holdings (ASX:SAR)
have agreed to a merger-of-equals to create a top-10 global gold miner.
The merger plans to unlock geographic, operational and strategic synergies creating a $16 billion pro-forma market capitalisation and $118 million net cash position.
It will be via a Saracen Scheme of Arrangement under which Northern Star will acquire 100 per cent of the shares in Saracen.
The company will have a world-class portfolio with 3 large scale production centres in Kalgoorlie, Yandal and North America and the Kalgoorlie “Golden Mile” consolidated under one owner for the first time in its 125 year history.
Shares in Northern Star Resources (ASX:NST)
last traded at $13.82.