China's Shandong Gold Offers To Buy Jaguar Mining For $1 Billion - Source
5:01a ET November 16, 2011 (Dow Jones)
SHANGHAI (Dow Jones)--Chinese state-owned Shandong Gold Group Co. has offered to buy Brazilian gold miner Jaguar Mining (JAG) for $1 billion, a person familiar with the matter said Wednesday.
Shandong Gold offered to pay at $9.3 a share for Jaguar, or a 73% premium to the latter's closing price Tuesday on the New York Stock Exchange.
The person declined to provide further financial details.
The potential takeover of the Brazilian gold miner comes after the Chinese company suspended work at a gold mine it acquired last year in Argentina.
-Yue Li contributed to this article; Dow Jones Newswires; (8621) 6120 1200; yue.li@dowjones.com
(END) Dow Jones Newswires
11-16-11 0501ET
Copyright (c) 2011 Dow Jones & Company, Inc.BT201111160015632011-11-16 10:01:00.0006K7NGL24K95P1V1ANFA7SKQKAJDJNF
