Eldorado Gold Bids C$3.4 Billion in Stock for Andean

Eldorado Gold Corp., Canada’s fifth- largest producer by margraco imonitor video vibrating baby monitor 2797vib3ket value, offered C$3.4 billion ($3.2 billion) in stock for Australia’s Andean Resources Ltd., which said it’s in talks for a rival transaction.

Eldorado offered 0.310 a share for every one of Perth-based Andean’s stock, valuing each at C$6.36, the Vancouver-based company said in a statement. That’s 32 percent more that Andean’s closing price yesterday in Toronto. Global gold mining takeovers are at record this year as producers are discovering less metal while the bullion price has advanced each year since 2000. Buying Andean will give Eldorado Chief Executive Officer Paul Wright a 2.1 million ounce project in Argentina, adding to assets in Brazil and China.