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Thompson Creek Closes Deal For Terrane Metals

DENVER (AP) â¿¿ Thompson Creek Metals Co. has completed its acquisition of rival mining company Terrane Metals Corp., the company said Wednesday.

Terrane stockholders will get 90 Canadian cents (88 cents) and 0.052 shares of Thompson Creek for every share of Terrane they hold, for a total purchase price of about 700 million Canadian dollars ($684.3 million). Terrane is based in Vancouver, Canada.

Shares of Thompson Creek, based in Denver, climbed 33 cents, or 3.1 percent, to $11.09 in trading Wednesday.

Copyright 2010 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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