As we brace for Hurricane Earl and Labor Day weekend travel hell, lawyers in Canada and Australia are working away on the latest big deal in the mining industry: The move by the Canadian company Goldcorp to scoop up its Australian rival, Andean Resources, for $3.4 billion in a cash-and-stock deal.
The deal has provided work for a whopping seven law firms (transnational deals are the best!), including two representing an as-now jilted bidder that might come back with a higher offer for Andean. For now, though, that bidder–Vancouver-based Eldorado Gold–is left about 2 percent short of the Goldcorp offer and must proceed with the knowledge that Andean’s board already has backed the Goldcorp proposal, according to The New York Times.
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