Mergers and Acquisitions: B2Gold Buys CGA, Boston Scientific Purchases BridgePoint
Canadian mining company B2Gold Corp. (BGLPF.PK) will purchase the Australian-based CGA Mining Limited (CGAFF.PK) for approximately $1.1 billion. The acquisition should also give B2Gold the Masbate mine located in the Philippines, which alone has an expected output of around 200,000 ounces of gold in this year through June. Additionally, the buyer is predicted to produce approximately 350,000 ounces from three Latin American mines in 2012.
Boston Scientific Corporation (NYSE:BSX) acquires the privately held BridgePoint Medical, a company which develops a catheter-based system used to treat highly diseased coronary arteries as a means of restoring blood flow to the heart. The financials of the transaction were not reported.
Shares of US Airways Group, Inc. (NYSE:LCC) move up Wednesday on news from AMR’s (AAMRQ.PK) American Airlines, which reports that it is cutting back capacity, while industry inside chatter has it that an unannounced pilot sickout is going at full tilt. Whatever the case, the airline has led all week in cancellations and delays.
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