Gold takeovers soar
By Nathan Becker
27 Dec 2006 at 02:15 PM
Resource Investor.
Gold company acquisitions hit a ten-year high in 2006, and producers struggling to find new deposits might keep the trend going well into 2007.
Goldcorp's $8.5 billion deal to acquire Glamis was the largest of 357 deals, totaling about $24.3 billion.
And because producers can't find new reserves as fast as mines are becoming depleted, the Bloomberg news reports.
"The driving force behind the M&A is that you have difficulty finding new gold mines,'' said one expert. "It's all about trying to get access to reserves.''
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