January 16, 2020 / 1:01 PM / 3 months ago

Glass Lewis recommends Detour shareholders vote in favor of Kirkland bid

TORONTO, Jan 16 (Reuters) - Shareholders of Canadian miner Detour Gold Corp should vote in favor of an all-stock takeover bid by rival Kirkland Lake Gold, proxy advisory firm Glass Lewis said.

Glass Lewis said in a statement dated Jan. 15 that Kirkland’s proposal is in the best interests of Detour shareholders, giving them exposure to Kirkland’s high-quality assets as investors in a senior gold producer.

In November, Kirkland offered 0.4343 share for each Detour Gold share. (Reporting by Jeff Lewis; Editing by Alex Richardson)

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