TORONTO – At last, after three hard-fought months, YAMANA GOLD appears poised to take over MERIDIAN GOLD. Yamana originally proposed a three-way deal that included NORTHERN ORION RESOURCES, at the end of June 2007. Northern Orion shareholders quickly agreed to the proposition, but Meridian shareholders held out.
Meridians board of directors has finally agreed to recommend an improved offer to its shareholders. Yamana has agreed to revise its offer, increasing the cash component by Cdn$0.50 to Cdn$7.00 per share. In addition to cash, Meridian shareholders will receive 2.235 Yamana common shares for each Meridian share tendered.
Documents related to Yamanas agreement with Northern Orion and its offer for Meridian may be viewed at www.Yamana.com.