Yamana to Buy Viceroy

Viceroy Exploration (XVE Quote - Cramer on XVE - Stock Picks) soared on news that Yamana Gold (AUY Quote - Cramer on AUY - Stock Picks) has agreed to acquire the Vancouver-based mineral-exploration company.

Yamana is offering 0.97 shares for each Viceroy share. The value of the transaction is C$10.86, or about $9.72 a Viceroy common share, representing a premium of 25.5%.

Viceroy gained $1.78, or 23.1%, to $9.48 recently. Yamana was off 30 cents, or about 3% to $9.75.