Triple Flag Precious Metals (TFPM) signed a definitive deal to acquire Orogen Royalties for about CA$421 million ($304.1 million), the companies said Tuesday.
Under the deal, Orogen shareholders may elect to receive CA$1.63 in cash or about 0.05 of a Triple Flag share for each Orogen share held, according to the statement. The companies said Orogen shareholders will also receive 0.25 of a share in a new company, which has an implied value of about CA$78 million.
The companies said their respective boards have approved and recommended that shareholders vote in favor of the transaction. A group of Orogen shareholders owning a total stake of about 39.5% signed voting support agreements in favor of the acquisition, according to the statement.
The transaction is expected to close in Q3.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.