Thursday, September 9, 2010

Andean (TSE:AND) Down on Eldorado (NYSE:EGO) Dropping Bid

Andean Resources (TSE:AND) fell back to earth some on the news Eldorado Gold (NYSE:EGO) wouldn't be making a counter offer to Goldcorp's (NYSE:GG) bid.

The gold miner closed in Toronto at $6.17, dropping $0.22, or 3.44 percent.

There have been no hints or overtures from other companies showing interest in Andean, so Goldcorp should get it unless a suitor emerges at a later date.

Few parties of interest could get into a bidding war with Goldcorp, leaving a relatively small number of potential rivals.

Goldcorp made a $3.6 billion bid last week, beating out the Eldorado bid.

No comments: