May 16, 2019 / 7:51 PM / 4 months ago

BUZZ-Iamgold: Surges on Bloomberg reporter's tweet on co exploring sale

** U.S.-listed shares of the Canadian gold miner surge ~15% to $2.75 in high volume after a Bloomberg reporter says on Twitter the co is exploring sale

** IAG CEO said early in May he expects more buyout deals in the gold industry

** Earlier this year, Barrick Gold Corp acquired Randgold Resources and Newmont Mining Corp bought Goldcorp to become two of the world’s biggest gold producers

** IAG shares were up marginally before deal rumor; Up to Wednesday’s close, stock had fallen ~35%

** Toronto-listed shares of co halted briefly, rises about 10.3% after resumption (Reporting by Nishara Karuvalli Pathikkal)

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