Endeavour Mining (EDVMF.PK -14.6%) agrees to buy Avion Gold (AVGCF.PK +27.8%) for $389M, or...

|About: Endeavour Mining Corporation (EDVMF-OLD)|By:, SA News Editor

Endeavour Mining (EDVMF.PK -14.6%) agrees to buy Avion Gold (AVGCF.PK +27.8%) for $389M, or $0.88/share, a 57% premium to Tuesday's closing price in Toronto. Endeavour says the deal will boost 2012 gold output by ~50%, much of it in West Africa; it now expects to produce 282K-304K oz. of gold this year.