The term "merger of equals" is one that gets thrown around a lot, as the acquiring company attempts to soften the impact of its takeover. But when Alamos Gold Inc. and AuRico Gold Inc. proposed their tie-up, these gold extraction outfits were like mirror images of each other. One had cash, the other assets and a need for cash. So equally matched were these counterparts that neither was willing to pay a premium for the other's shares. That might have made for a good press release, but it left the merger vulnerable to interlopers willing to offer either company a better deal.
Lexpert senior editor David Dias interviews the lawyers on the deal for AuRico-Alamos at www.lexpert.ca/globe