Agnico-Eagle Enters Into Share Sale and 1 Stock Hitting 52-Week Highs
Agnico-Eagle Mines Limited (NYSE:AEM) announced that it will divest 7,795,574 common shares of Queenston Mining to Osisko Mining Corporation for a cash consideration of C$5.43 per share. These stocks represent around 9.21 percent of the issued and outstanding shares. The transaction should close on November 29th, at which time Agnico-Eagle will hold no shares. Agnico-Eagle shares closed up1.5 percent on the day at $57.33, and have been traded in a 52-week range of $31.42 to $56.99.
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Both the European Commission and the Ministry of Commerce of China have now okayed the pending purchase of Cooper Industries (NYSE:CBE) by the diversified industrial manufacturer Eaton Corporation (NYSE:ETN), according to a Monday release by the latter. All the necessary competition authorities have now cleared the transaction, as have the relevant shareholders. Cooper shares closed up 0.05 percent on the day at $78.81, having been traded in a 52-week range of $50.77 to $78.80.