November 25, 2019 / 3:30 PM / 6 months ago

BUZZ-Kirkland Lake Gold: Falls on offer to acquire Detour Gold

(Updates)

** Shares of Canadian miner fall 16.5% to C$52.87 - on track for worst percentage fall since Feb. 27 2017

** KL to buy smaller rival Detour Gold for about C$4.89 bln ($3.68 bln) in an all-stock deal

** KL offers 0.4343 shares to DGC shareholders for each share held

** The deal represents a premium of 23.8% to DGC’s Friday close

** Shares of DGC rise 3% to C$22.89

** Including session’s gains, KL had risen ~78% YTD ($1 = 1.3301 Canadian dollars) (Reporting by Arunima Kumar in Bengaluru)

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