Agnico Eagle Mines (NYSE:AEM) and Rupert Resources announced today that they have entered into a definitive arrangement agreement for Agnico Eagle to acquire all remaining outstanding common shares of Rupert.
The transaction, valued at approximately C$2.9 billion on a 100% equity basis, consolidates Agnico Eagle’s dominant position in the Central Lapland Greenstone Belt of Finland.
Under the terms of the agreement, Rupert shareholders will receive 0.0401 of an Agnico Eagle common share for each Rupert share held.
This upfront consideration is valued at approximately C$12 per share, representing a 67% premium over Rupert’s closing price on the Toronto Stock Exchange as of April 17, 2026.
Beyond the initial share exchange, the deal includes a contingent value right (CVR) worth up to an additional C$3 per share in cash.
The acquisition is a strategic move for Agnico Eagle, which already operates the Kittilä mine in Finland, the largest primary gold producer in Europe.
The Rupert Board of Directors and a Special Committee of independent directors have unanimously recommended the transaction.
The deal is supported by fairness opinions from BMO Capital Markets and Origin Merchant Partners, the latter of which also provided a formal valuation.
The arrangement is subject to customary closing conditions, including court approval and the support of at least two-thirds of the votes cast by Rupert shareholders.