US EditionPublished • loading... • Updated
China's Zijin Gold to Buy Canadian Miner Allied Gold for About $4 Billion
Zijin Gold offers a 5.4% premium in a $5.5 billion cash acquisition of Allied Gold, pending shareholder and Canadian government approvals.
- On Monday, Hong Kong-listed Zijin Gold International Co. Ltd. agreed to acquire Toronto-based Allied Gold Corp. for about C$5.5 billion in cash in a friendly deal.
- A surge in bullion prices pushed miners toward consolidation, with rising gold prices boosting margins and cash flows while Canadian and Chinese trade relations improved earlier this month.
- Allied’s shares moved in trading after the announcement, with U.S.-listed shares up nearly 4% and over $43 on Monday morning, while the deal includes a C$220 million termination payment.
- Allied shareholders must approve the deal, needing two‑thirds support, and the transaction requires Canadian government review under the Investment Canada Act with closing expected by late April 2026.
- Zijin’s global expansion via acquisitions positions it as a major consolidator in gold; Zijin operates in nine countries, Allied’s shares surged more than 260% in the past year, and the deal requires review under the Investment Canada Act.
Insights by Ground AI
Podcasts & Opinions
23 Articles
23 Articles
Chinese Company on US Forced Labour Watchlist to Acquire Canadian Gold Miner
State-owned Chinese corporation Zijin Gold International says it has reached an all-cash deal to buy Canadian company Allied Gold Corp. for $5.5 billion in cash. Zijin Gold International is a subsidiary of Zijin Mining Group, which is listed on the U.S. government’s Uyghur Forced Labor Prevention Act Entity List. The act restricts the import of goods in the United States from companies considered to be connected to the use of forced labour of Ch…
·New York, United States
Read Full Article
Coverage Details
Total News Sources23
Leaning Left1Leaning Right4Center5Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
C 50%
R 40%
Factuality
To view factuality data please Upgrade to Premium
