On February 8, 2022, Kirkland Lake Gold Ltd. and Agnico Eagle Mines Limited completed their “merger of equals” transaction pursuant to a plan of arrangement. Agnico Eagle acquired 100 per cent of Kirkland Lake Gold, with Kirkland shareholders receiving 0.7935 of an Agnico Eagle share for each Kirkland Lake Gold share held immediately prior to closing. The combined company continues as Agnico Eagle Mines Limited and is led by Sean Boyd, as Executive Chair and Ammar Al-Joundi, as President and Chief Executive Officer. On closing, Agnico Eagle had a market capitalization of approximately US$22.4 billion.
The merger establishes Agnico Eagle as a gold mining company with the largest gold production from Canada, and the third-largest gold company in the world. The transaction is one of the largest deals in the Canadian gold sector.