Regional Business Information for the North West
ELD & EGU receive positive merger recommendations
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8th February 2012
Institutional Shareholder Services and Glass Lewis & Co have recommended that shareholders vote in favour of the merger of Eldorado Gold Corporation and European Goldfields.
ISS and GL made their recommendations based on their findings that the transaction is financially fair to shareholders of both companies, the strategic rationale is reasonable, market reaction has been favourable and there are no significant governance concerns.
Eldorado chief executive Paul Wright said: "We are pleased that both ISS and GL support our view that shareholders should support the merger.
"We maintain our commitment to strengthening performance and providing superior returns for shareholders, which this transaction will help us accomplish."
At 9:30am: (LON:EGU) European Goldfields share price was -5p at 777.5p
Story provided by StockMarketWire.com
