Canadian metals giant Eldorado Gold announced Monday that it has agreed to acquire Foran Mining in a CA$3.8 billion ($2.8 billion) stock and cash transaction, merging two strong mining players to create a leading gold and copper producer with a diversified portfolio spanning Canada, Greece, and Turkey.
Blake Cassels & Graydon LLP is advising Eldorado, while Fasken Martineau DuMoulin LLP represents an Eldorado special committee. McCarthy Tétrault LLP serves as legal counsel to Foran.
Deal Structure and Shareholder Impact
Under the agreement, Foran shareholders will receive 0.1128 Eldorado shares plus CA$0.01 in cash per Foran share. Upon completion, Eldorado shareholders will hold roughly 76% of the combined company, with Foran shareholders owning about 24%.
The transaction implies an equity value of approximately CA$3.8 billion for Foran and is expected to close in the second quarter of 2026, pending regulatory and shareholder approvals.
The merged entity will retain its headquarters in Vancouver, British Columbia, operating under the Eldorado Gold name.
