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. Pursuant to the arrangement, Kirkland Lake Gold shareholders received 0.7935 of an Agnico Eagle share for each Kirkland Lake Gold share held immediately prior to closing. The combined company will be led by Sean Boyd, as Executive Chair, Anthony Makuch, as Chief Executive Officer and Ammar Al-Joundi, as President. Upon closing of the arrangement, the combined company had a market capitalization of approximately US$22.4 billion.
Cassels acted as external counsel for Kirkland Lake Gold.
This deal won an Excellence Award at Lexpert’s Canadian Law Awards 2023 in the category of M&A Deal of the Year.