Canada's Agnico Eagle to buy Kirkland Lake Gold in near $11 bln stock deal - NewsBreak

Sept 28 (Reuters) - Canada's Agnico Eagle Mines Ltd (AEM.TO)is buying rival Kirkland Lake Gold Ltd (KL.TO) in a stock deal valued at C$13.51 billion ($10.68 billion). Kirkland Lake Gold shareholders will receive 0.7935 of an Agnico Eagle common share for each stock they hold, the two companies said on Tuesday. The deal values each Kirkland share at C$50.63, or a discount of 9% to the stock's Monday close, according to Reuters' calculation.