Featured Post

Latest Gold News

This analyst sees nothing to stop gold from continuing climb Cyber Terrorism another reason to own gold says Faber Fed doves supportin...

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: