TransactionsConsolidated Thompson Iron Mines Limited to be Acquired by Cliffs Natural Resources Inc. for Approximately $4.9 BillionPublished: 01/12/2011 On January 11, 2011, Consolidated Thompson Iron Mines Limited ("CLM") announced that it has entered into a definitive agreement pursuant to which Cliffs Natural Resources Inc. will acquire all the outstanding common shares of CLM by way of a plan of arrangement for $17.25 per share in cash, valuing the Corporation at approximately $4.9 billion. The cash consideration to be received by shareholders represents an implied premium of 30% to both CLM's closing share price and 20-day volume weighted average trading price on the Toronto Stock Exchange as at January 10, 2011. Cassels Brock acted for CLM's Transaction Committee. Click to view news release for more information. |