Goldcorp Inc. acquired all of the outstanding shares of Gold Eagle Mines Ltd. on September 25, 2008, pursuant to a plan of arrangement. Under the plan, shareholders of Gold Eagle were entitled to receive at their election and subject to proration either (i) $13.60 in cash, (ii) 0.292 of a common share of Goldcorp and $0.0001 in cash, or (iii) any combination thereof, for each Gold Eagle common share held. In aggregate, $725.8 million in cash and 15.6 million common shares of Goldcorp were paid and issued to Gold Eagle shareholders. The total consideration received by Gold Eagle shareholders was approximately $1.5 billion.
Goldcorp was represented by a team from Cassels Brock & Blackwell LLP, which included Paul Stein, Jeffrey Roy, Mark Bennett and Jennifer Traub (securities and mining); Jason MacIntosh (securities); Chris Hersh (competition) and Robert Cohen (litigation). Tax counsel for Goldcorp was Michael Colborne and Michael McLaren from Thorsteinssons LLP.
Gold Eagle was represented by a team from Fraser Milner Casgrain LLP, which included John Sabine, Frank Davis, Sander Grieve, Linda Misetich, Abbas Ali Khan, Andrew Elbaz and Eric Foster (securities); Susan Paul (competition); Michael Schafler and Timothy Banks (litigation) and Christopher Steeves, Zahra Nurmohamed and Joanna Barsky (tax).