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Goldcorp to Buy Andean for $3.4 Billion

VANCOUVER ( TheStreet) -- Goldcorp (GG - Get Report) said Friday it agreed to acquire Andean Resources, the Australian gold miner, for about $3.6 billion ($3.4 billion).

Andean's principal asset is the 100%-owned Cerro Negro gold project, an advanced-stage, high-grade vein system in the Santa Cruz province of Argentina, the companies said in a press release.

Goldcorp's cash and stock offer of C$6.50 for Andean trumps a rival all-stock bid of C$6.36 from Eldorado Gold (EGO - Get Report).

The acquisition is expected to close in late 2010 or early 2011.

-- Written by Joseph Woelfel



>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to: tips@thestreet.com.

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